Which One of the Following Statements Is Correct If You

question 71

Multiple Choice

Which one of the following statements is correct if you purchase an item with credit terms of  3/15, net 45?

• A) If you pay within 3 days, you will receive a discount of 15 percent.
• B) If you pay within 15 days, you will receive a discount of 3 percent.
• C) If you do not pay within 15 days, you will be charged interest at a rate of 3 percent per month.
• D) If you pay 3 percent of your purchases within 15 days, you will have 45 days to pay for the remainder.
• E) One-third of your purchase is due in 15 days and the rest is due in 45 days.

---

Definitions:

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched.

Conservation

In cognitive development, the understanding that certain properties of objects, such as volume or mass, remain the same despite changes in the forms or arrangements of those objects.

Culture and Society

The collective beliefs, values, norms, and material objects shared by a group of people and passed from one generation to the next, shaping their way of life.

Cognitive Growth

The intellectual development that occurs as we learn, understand, and apply knowledge over time.