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Referring to the information below, which datum is truncated? The master patient index screen for John VanVolkenburg reads as follows:
Terms 2/10 n/30
Payment terms indicating a 2% discount if paid within 10 days, otherwise the full amount is due within 30 days.
Physical Inventory Count
An assessment method where a business physically counts its entire inventory to verify stock records and accounts.
Perpetual Inventory System
An inventory management method where updates to inventory records are made in real-time following each receipt or sale of inventory items.
Periodic Inventory System
An inventory accounting system where the inventory is updated in the accounting records periodically, typically at the end of an accounting period, rather than after each transaction.
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