What Is the Correct Meaning of the Abbreviation N&V

question 12

Multiple Choice

What is the correct meaning of the abbreviation N&V?

• A) Nasogastric tube and vomiting
• B) Nasovasoscopy
• C) Nausea and vomiting
• D) Nauseous and volatile
• E) Not vocal

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Definitions:

Cash Discounts

These are deductions allowed by sellers on invoice amounts if the buyer pays promptly within a specified period, serving as an incentive for early payment.

Perpetual Inventory System

An inventory management method where records are continuously updated to reflect buys, sells, and stock levels in real-time.

Gross Method

An accounting practice where discounts for early payment are not considered until they are actually taken by the purchaser.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, including the repayment period, interest rate, and penalties for late payment.