The Net Credit Period for a Company with Terms of 3/15

question 74

Multiple Choice

The net credit period for a company with terms of 3/15 net 40 is:

• A)15 days
• B)25 days
• C)40 days
• D)55 days

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Definitions:

¥ Per A$

The exchange rate showing how much Japanese yen (¥) one Australian dollar (A$) can buy.

Exchange Rate

An exchange rate determines how much one currency is worth in terms of another, playing a critical role in international trade and investment.

¥1.00

The monetary value of one Japanese yen, the official currency of Japan.

A$

The symbol for the Australian Dollar, the official currency of Australia.