Find the Final Discount Date and the Net Payment Date

question 47

Multiple Choice

Find the final discount date and the net payment date.
-Invoice date: August 24
Terms: , net 30

• A)Final discount: Sept 7 Payment due: Sept 22
• B)Final discount: Sept 23 Payment due: Sept 8
• C)Final discount: Aug 28 Payment due: Sept 8
• D)Final discount: Sept 8 Payment due: Sept 23

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Definitions:

Economic Benefit

The advantage gained from salary, wages, investments, or any other source that increases an individual's wealth or resources.

Exempt

Not subject to an obligation, duty, or requirement; often used in the context of income that is not subject to taxation.

Capital Gains Rates

The tax rates applied to the profit made from selling an asset for more than its purchase price.

Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.