The Net Credit Period for a Company with Terms of 3/10

question 40

Multiple Choice

The net credit period for a company with terms of 3/10, net 60 is

• A)50 days.
• B)60 days.
• C)10 days.
• D)57 days.

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Definitions:

Bargaining Agent

A labor union or individual representative designated to negotiate employment terms on behalf of a group of employees.

Closed-shop Agreement

A labor agreement requiring employees to be members of a union as a condition of employment, typically illegal in the U.S. under the Taft-Hartley Act.

Resistance Point

The maximum point of opposition or pushback in negotiations or discussions.

Pay Increase

An upward adjustment in an individual's salary or wages, often recognized as a reward for performance or due to changes in market conditions.