On September 1,a Firm Grants Credit with Terms of 2/10

question 26

Multiple Choice

On September 1,a firm grants credit with terms of 2/10 net 45. The creditor:

• A) must pay a penalty of 2% when payment is made later than September 1^st.
• B) must pay a penalty of 10% when payment is made later than 2 days after September 1^st.
• C) receives a discount of 2% when payment is made at least 10 days before September 1^st.
• D) receives a discount of 2% when payment is made before September 1^st and pays a penalty of 10% if payment is made after September 1^st.
• E) receives a discount of 2% when payment is made within 10 days after the effective invoice date of September 1^st.

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Definitions:

Game-playing Concepts

Ideas or strategies derived from games that can be applied in other contexts, such as education or business, to engage and motivate individuals.

Apps

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Web Services

Software systems designed to support interoperable machine-to-machine interaction over a network, often using standardized protocols like SOAP or REST.

Teasers

Promotional materials designed to arouse interest or curiosity in something without revealing too much information.