A Firm Offered 3/10,net 30 as Terms of Trade Credit

question 36

Multiple Choice

A firm offered 3/10,net 30 as terms of trade credit on a $1,000 invoice dated January 1.How much must the purchaser offer to pay in full on January 4^th?

• A) $970.00
• B) $971.16
• C) $1,000.00
• D) $1,030.00

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Definitions:

Structures

denote the organized arrangement or system of interrelated elements, which could be social, physical, or conceptual.

Institutions

Complex social structures and organizations that govern the behavior of individuals within a society, such as family, education, and government.

Intersectionality

A concept highlighting the interconnection of social categorizations such as race, class, and gender as they apply to a given individual or group, creating overlapping systems of discrimination or disadvantage.

Colonialism

The political and economic domination by one country over a geographically separate and distinct area and its indigenous population, often involving exploitation.