Credit Terms of "2/10,n/30" Mean That If Payment Is Made

question 71

True/False

Credit terms of "2/10,n/30" mean that if payment is made in two days,a 10% discount will be given;if not paid within two days,the full invoice price will be due in thirty days.

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Definitions:

Profit Maximization

A financial strategy aimed at increasing a business's surplus by reducing costs or enhancing revenue.

Ethical Behavior

Refers to actions or practices that are morally upright and adhere to widely accepted moral principles or standards.

Outcome-Based Ethics

An ethical philosophy that focuses on the impacts of a decision on society or on key stakeholders.

Standards of Behavior

Established or accepted norms of conduct that individuals are expected to follow within a society or organization.