Which of the Following Terms of Trade Credit Is the Least

question 12

Multiple Choice

Which of the following terms of trade credit is the least expensive?​

• A) 2/10, n30​
• B) ​3/15, n45
• C) ​3/10, n45
• D) ​1/10, n45

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Definitions:

Specific Industry Guidance

Regulations and recommendations tailored to the operating practices and challenges of particular sectors.

GAAP

Short for Generally Accepted Accounting Principles, a set of rules and standards designed to ensure consistency in financial reporting.

IFRS

International Financial Reporting Standards – a set of accounting standards developed by the International Accounting Standards Board (IASB) guiding the financial reporting of companies.

GAAP

Generally Accepted Accounting Principles, a set of rules and standards used for financial reporting and accounting in the U.S. to ensure consistency and transparency.