Which One of the Following Statements Regarding Sales Discounts Is

question 89

Multiple Choice

Which one of the following statements regarding sales discounts is true?

• A)If a company offers a discount to encourage prompt payment and the discount is taken,the discount reduces the amount of Net Sales.
• B)Credit terms of "2/10,n/30" mean that if payment is made in two days,a 10% discount may be taken;if not paid within two days,the full invoice price will be due in thirty days.
• C)The terms "sales discounts" and "sales credits" are used interchangeably by a company.
• D)Sales discounts is an expense account.

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Definitions:

Testosterone

A steroid hormone that plays a key role in the development of male reproductive tissues, as well as promoting secondary sexual characteristics such as increased muscle and bone mass, and the growth of body hair.

Estrogen

A group of steroid hormones that play an essential role in the development and regulation of the female reproductive system and secondary sex characteristics.

Hormones

Chemical messengers produced by glands in the body that regulate the activity of cells or organs, influencing many physiological processes.

Neurotransmitters

Chemicals that transmit signals across a synapse from one neuron to another 'target' neuron.