When Goods Are Sold to a Customer with Credit Terms

question 71

Multiple Choice

When goods are sold to a customer with credit terms of 2/15,n/30,the customer will:

• A)receive a 15% discount if they pay within 2 days.
• B)receive a 2% discount if they pay 15% of the amount due within 30 days.
• C)receive a 15% discount if they pay within 30 days.
• D)receive a 2% discount if they pay within 15 days.

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Definitions:

Lymph

A body fluid formed within the tissue spaces and circulated throughout the body.

Glucose

A simple sugar that serves as the main source of energy for the body's cells.

Protein

Large molecules composed of one or more long chains of amino acids, essential for the structure, function, and regulation of the body's cells, tissues, and organs.

Connective Tissue

Tissue that supports, binds, or separates other tissues or organs, consisting of cells embedded in a large amount of extracellular matrix.