Which One of the Following Statements Is Correct Concerning the Credit

question 146

Multiple Choice

Which one of the following statements is correct concerning the credit period?

• A) The credit period begins when the discount period ends.
• B) The discount period is the length of time granted to a customer to pay their bill.
• C) The credit period begins on the invoice date.
• D) With terms of 2/10, net 20, the credit period is 10 days.
• E) With EOM dating, all sales are assumed to have occurred on the 15^thof each month.

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Definitions:

Vicarious Liability

Legal responsibility assigned to one party for the actions of another, typically seen in employment where the employer is liable for employees' acts.

Vehicular Homicide

A legal charge for causing the death of a person due to illegal driving of an automobile, including driving under the influence.

Criminal Record

A documented history of an individual's criminal convictions and charges, maintained by government agencies.

Negligent Hiring

A legal claim made against an employer for hiring an individual who is unfit or dangerous, which results in harm or damage.