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:

According to Investments

A categorization or analysis based on different types of investments, though "According to Investments" is not a standard accounting term.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use.

Cash

Money in the form of currency that is used to conduct transactions.