When an Invoice Lists the Terms as 3/15 Net 45

question 65

True/False

When an invoice lists the terms as 3/15 net 45, the "net 45" means that the seller requires payment in full within 45 days.

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Definitions:

Line Managers

Supervisors or managers who are directly responsible for overseeing the day-to-day work of other employees.

Planning

The process of making plans for something, including setting goals and determining the steps and resources needed to achieve those goals.

Top Managerial Positions

Refers to the highest-ranking roles within an organization, responsible for strategic decisions and overall direction.

Functional Manager

An individual in charge of overseeing a particular department or business area within a company, such as finance or marketing.