Phil's Print Shop grants its customers the right to pay for their print jobs within 30 days of the date of service.This 30-day period is referred to as the:
A)payables period.
B)cash cycle.
C)transactions period.
D)credit period.
E)disbursement period.

Question

Quizplus · Accepted Answer

The 30-day period granted by Phil's Print Shop to its customers is referred to as the credit period. This is the period of time in which customers are allowed to pay for the goods or services they have received on credit. Therefore, the best choice is D, credit period. The other options do not accurately describe this specific time period.

Phil's Print Shop Grants Its Customers the Right to Pay