When a Buyer Receives an Invoice for $100 with Terms

question 178

Multiple Choice

When a buyer receives an invoice for $100 with terms of "2/15 net 30" she can expect to pay

• A)$100 if she pays anytime in the first 30 days.
• B)less than $100 if she pays during the first 15 days.
• C)$100 if she pays anytime during the first fifteen days.
• D)more than $100 if she pays between day fifteen and day thirty.
• E)the full $100 if she waits more than 30 days to pay.

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Definitions:

Long-Run Equilibrium

Long-run equilibrium occurs when an economy's resources are fully employed and the output and input markets are in balance, with no external forces causing disruption.

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

Social Learning Theory

A theory that suggests people can learn new behaviors by observing others and the outcomes of those behaviors.

Competence

Refers to the ability of an individual or organization to effectively perform or carry out a specific task or role.