Under Credit Terms of 1/5, Net 15, Customers Should

question 26

Multiple Choice

Under credit terms of 1/5, net 15, customers should:

• A) Always pay on the 15th day.
• B) take the discount and pay immediately.
• C) take the discount and pay on the day following the day of sale.
• D) either take the discount or pay on the 15th day.
• E) both take the discount and pay on the 15th day.

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Definitions:

Exocrine Glands

Glands that release their secretions through ducts either to the external environment or into the digestive tract, unlike endocrine glands, which secrete hormones directly into the bloodstream.

Cystic Fibrosis

A genetic disorder that affects the respiratory, digestive, and reproductive systems, characterized by the production of thick, sticky mucus.

Dominant Gene

A gene that expresses its trait in the phenotype even when heterozygous, overshadowing the effect of a recessive gene if present.

Recessive Gene

A gene that can lead to a phenotype only when two copies are present, as opposed to a dominant gene where one copy is sufficient for expression.