A Company Sells Goods and Offers Credit Terms of "Net

question 118

Multiple Choice

A company sells goods and offers credit terms of "net 30 days." What does this mean for the company that sold the goods?

• A)It does not have to ship the goods for 30 days
• B)It cannot recognize the sales credit for 30 days
• C)It offers a 30% discount for customers that use credit cards.
• D)The customer has up to 30 days to pay back the seller for the goods purchased without penalty.

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Definitions:

Substance Abuse

Repeated, harmful use of a substance, usually alcohol or other drugs.

Typical Adolescent Behavior

Refers to the common actions and demeanor expected from teenagers due to hormonal changes, including mood swings, seeking independence, and experimenting with identity.

Addiction

A chronic disorder characterized by compulsive engagement in rewarding stimuli, despite adverse consequences, leading to significant impairment or distress.

Illicit Use

The unauthorized or illegal consumption or use of substances or goods.