How Many of the Following Statements Regarding Discounts Are True

question 71

Multiple Choice

How many of the following statements regarding discounts are true?
If a company offers a discount to encourage prompt payment and the discount is taken, the discount reduces the amount of Net Sales.
Credit terms of "2/10, n/30" mean that if payment is made in two days, a 10% discount may be taken; if not paid within two days, the full invoice price will be due in thirty days.
The terms "sales discounts" and "purchase discounts" are used interchangeably by a company.

• A) None
• B) One
• C) Two
• D) Three

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Definitions:

Genomics

Genomics is the study of the structure and function of genomes, including mapping genes and DNA sequencing. The discipline unites molecular and cell biology, classical genetics, and computational science.

Mutations

Hereditary alterations in the genetic material that can lead to changes in the phenotype of an organism, contributing to genetic diversity.

Cell Division

The process by which a parent cell divides into two or more daughter cells, crucial for growth, reproduction, and repair in living organisms.

Tumors

Abnormal growths of tissue that can be benign (non-cancerous) or malignant (cancerous), resulting from uncontrolled cell division.