The Term N/30 Means

question 185

Multiple Choice

The term n/30 means

• A) the entire bill must be paid within 30 days.
• B) the purchaser must pay 3% interest if their payment is late.
• C) the seller is offering a 30% discount for early payment.
• D) the seller is expected to deliver the goods within 30 days.

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Definitions:

Liabilities

Liabilities refer to the financial obligations or debts that a company owes, which must be paid to others.

Treasury Stock

Shares that were once part of the outstanding shares but were bought back by the company, reducing the amount of stock on the open market.

Par Value

The stated value of a bond, stock share, or coupon as designated by the issuer.

Resold

The act of selling an item or asset that has already been purchased.