The Cash Discount Terms for a Purchase Worth $1,000 Made

question 209

Multiple Choice

The cash discount terms for a purchase worth $1,000 made on August 1 are 3/10,net 30.How much will a buyer have to pay if he or she makes the payment on August 7?

• A)$930
• B)$30
• C)$1,030
• D)$1,000
• E)$970

---

Definitions:

Endless Chain Method

A sales technique in which a salesperson asks each client or customer for referrals to new potential clients, theoretically creating an endless chain of prospects.

Preapproach

A strategy in the sales process where preliminary research and planning are conducted before interacting with a potential customer.

Trial Close Stage

A stage in the sales process where the seller presents a proposition to gauge the buyer's interest or readiness to make a purchase, often before the final close.

Center of Influence

An individual or institution that can significantly affect perceptions and actions within a specific community or demographic through their authority or position.