Find the Discount Date and Net Payment Date

question 24

Multiple Choice

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.)
-Invoice date: Mar 14 Terms:

• A)Discount date: May 3; net payment date: May 23
• B)Discount date: May 13; net payment date: Jun 2
• C)Discount date: May 14; net payment date: Jun 4
• D)Discount date: Apr 3; net payment date: Apr 23

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Definitions:

Federal Trademark Dilution Revision Act

A law aimed at providing additional protection to famous trademarks from uses that dilute their distinctiveness, even in the absence of any consumer confusion or competition.

Sonny Bono Act

A law that extends copyright protection terms in the U.S., formally known as the Copyright Term Extension Act.

U.S. Patent System

The governmental body responsible for granting patents in the United States, providing inventors exclusive rights to their inventions for a limited period.

Patented

Describes a legal status granted to an invention that provides the patent holder with exclusive rights to use, make, sell, or distribute the invention for a certain period of time.