Liquefied Petroleum Gas Is Stored

question 59

Multiple Choice

Liquefied petroleum gas is stored:

• A) as a solid.
• B) in a gaseous form.
• C) in a liquid state under pressure.
• D) in its purest form as butane gas.

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Definitions:

Terms of Sale

The conditions under which a seller will complete a sale, typically specifying the time and method of payment and when the buyer takes possession of the goods.

Credit Period

The duration of time a buyer is given by a seller to pay for a purchase.

Cash Discount

An incentive offered by sellers to encourage buyers to pay their invoice ahead of the due date.

Discount Period

The time frame between the date a bill is issued and its payment date, within which payment may be made at a discount.