Tangshan Mining Was Extended Credit Terms of 3/15 Net 30

question 129

Multiple Choice

Tangshan Mining was extended credit terms of 3/15 net 30. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, would be ________.

• A) 56.4%
• B) 62%
• C) 74%
• D) 75.3%

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Definitions:

Relatedness Needs

According to Self-Determination Theory, these are essential psychological needs involving connecting with others through caring and meaningful relationships.

Growth Needs

Psychological requirements for personal development and self-improvement.

Existence Needs

Basic requirements for human survival, such as food, water, shelter, and safety, which are considered the foundation of Maslow's hierarchy of needs.

Supervision

The act of overseeing and directing work and workers, ensuring tasks are completed efficiently and effectively.