An Invoice of $237

question 21

Multiple Choice

An invoice of $237.50 dated April 2 is subject to credit terms of 2/10, n/30. The amount to be paid if the invoice is paid on or before April 12 is

• A) $4.75.
• B) $23.75.
• C) $232.75.
• D) $237.50.

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Definitions:

United Way

A nonprofit organization that works worldwide, helping communities by funding partner organizations to support various social causes.

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party.

Settlor

An individual or entity that creates a trust by transferring assets into it for the benefit of trust beneficiaries according to the terms of the trust agreement.

Grantor

An individual or entity that transfers ownership of an asset to another through a legal document.