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In order to help increase Lee's job satisfaction, he has been given additional responsibilities. This is an example of
Terms 2/10, n/30
Payment terms indicating a 2% discount if the bill is paid within 10 days; otherwise, the net amount is due in 30 days.
Discount
A reduction from the usual cost of something, or an amount deducted from the regular price or interest rate.
Perpetual Inventory System
An inventory accounting technique that immediately logs the sale or acquisition of inventory using computerized point-of-sale systems and enterprise asset management software.
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