RFID

question 34

Multiple Choice

RFID

• A)is radio frequency identification.
• B)is an electronic tagging technology.
• C)reduces losses from counterfeiting.
• D)is used as wireless computer passes for toll roads.
• E)all of the above

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Definitions:

Net 45

A term indicating that payment is due 45 days after the invoice date.

Average Collection Period

The average number of days that it takes for a business to receive payments owed by its customers, calculated by dividing the accounts receivable balance by the average daily sales.

Credit Terms

The conditions under which a seller will extend credit to a buyer, including the repayment period, discount for early payment, and the rate of interest if applicable.

Discount

A reduction applied to the usual cost of goods or services or the process of determining the present value of future cash flows.