Examlex
One-month-old infants tend to pay most attention to the edges of human faces.
Terms 2/10, N/30
A set of credit terms that offer a discount of 2% if payment is made within 10 days; otherwise, the full invoice amount is due within 30 days.
Perpetual Inventory Method
An accounting practice where the inventory records are updated immediately after every addition or subtraction, providing a continuously accurate inventory level.
Journalize
The act of recording business transactions in the chronological accounting record known as the journal.
Terms 2/10, N/30
A payment term indicating that a buyer can take a 2% discount on the invoice amount if the payment is made within 10 days; otherwise, the full invoice amount must be paid within 30 days.
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