The Credit Terms Offered to a Customer by a Business

question 167

Multiple Choice

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

• 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.

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Definitions:

Local Anesthetic

A medication used to temporarily block sensation in a particular area of the body without affecting consciousness.

Cocaine

A powerful and illegal stimulant drug derived from the leaves of the coca plant, known for its ability to produce intense short-term euphoria and increased energy.

Hypnosis

A trance-like state characterized by increased focus, concentration, and suggestibility.

Tobacco Smoker

An individual who inhales smoke from burning tobacco products, such as cigarettes, cigars, or pipes, which can lead to various health issues.