Some English Words May Have Different Meanings in Different Countries

question 14

True/False

Some English words may have different meanings in different countries although the native language in these countries may be English.

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Definitions:

Worksheet

A paper or electronic tool used by accountants to gather information for adjusting entries and preparing financial statements.

Trial Balance

A list of accounts and their balances at a given time.

Terms 2/10 N/30

Terms 2/10 N/30 is a commercial credit term indicating that a buyer can deduct 2% of the invoice amount if payment is made within 10 days; otherwise, the full invoice amount is due in 30 days.

Invoice Paid

A financial transaction where an invoice has been settled or fulfilled, indicating that the billed goods or services have been paid for by the recipient.