The Credit Terms Offered to a Customer by a Business

question 126

Multiple Choice

The credit terms offered to a customer by a business firm are 2/10, n/30, which means that

• A) the customer must pay the bill within 10 days.
• B) the customer can deduct a 2% discount if the bill is paid between the 10th and 30th day from the invoice date.
• C) the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date.
• D) two sales returns can be made within 10 days of the invoice date and no returns thereafter.

---

Definitions:

Social Support System

A network of friends, family, and peers that provide emotional, informational, and instrumental assistance.

Camaraderie

A sense of friendship, fellowship, or loyalty shared among a group or people.

Occupation

Occupation refers to a person's regular work or profession, which is a significant aspect of their identity and livelihood.

Nicotine

A stimulant and addictive substance found in tobacco, known for its effects on the central nervous system.