What Should Customers Submit to the Creditor If They Want

question 163

Multiple Choice

What should customers submit to the creditor if they want to take the discount on an invoice for $300 dated April 1 with terms of 3/10 net 30?

• A) $285 by April 15
• B) $291 by April 10
• C) $297 by April 30
• D) $300 by April 12

---

Definitions:

Job-Order Costing

A costing system used in situations where many different products, jobs, or services are produced each period.

Sequential Manufacturing System

A sequential manufacturing system is a production process where operations are carried out in a specific, consecutive order to complete the manufacturing of a product.

Production Report

A document detailing the output of a manufacturing process, including quantities produced, defect rates, and efficiency.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the number of fully completed units that could have been produced with the same amount of input.