The Terms 2/10 N/30 State That a 2% Discount Is

question 180

True/False

The terms 2/10 n/30 state that a 2% discount is available if the invoice is paid within the first 10 days of the next month.

---

Definitions:

Operating Departments

Divisions or units within an organization directly involved in its core business activities, responsible for producing the goods or services it offers.

Income Statements

Reports that detail the revenue, expenses, and profitability of a company over a defined accounting period, showing its financial performance.

Service Departments

Units within an organization that provide support services to other departments, rather than producing goods or services for external customers.

Generate Revenues

The process of earning income from business activities, such as sales of goods and services.