Examlex
Which of the following statements is false
Normal Balance
The usual balance of an account in the accounting system, where asset and expense accounts typically have a debit balance, and liability, equity, and revenue accounts have a credit balance.
Discount Period
The timeframe within which a buyer can take advantage of a discount for paying an invoice early.
F.O.B Shipping Point
Free on Board Shipping Point, a term indicating that the buyer takes responsibility for goods the moment they leave the seller's premises.
Discount Period
The time frame in which a buyer may take advantage of a discount offered by a seller for early payment.
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