Which One of the Following Statements Is Correct If You

question 40

Multiple Choice

Which one of the following statements is correct if you purchase an item with credit terms of 1/5,net 15?

• A)If you pay within 1 day, you will receive a 5 percent discount.
• B)If you pay within 5 days, you will receive a 1 percent discount.
• C)If you do not pay within 15 days, you will be charged interest at a 1.5 percent monthly rate.
• D)If you pay within 15 days, you will receive a 1/5^th percent discount.
• E)You must pay the discounted amount within 15 days.

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Definitions:

Regulatory Bureaucracies

Government agencies tasked with enforcing rules and regulations to ensure the safety, fairness, and efficiency of markets and industries.

Mixed Economy

An economic system combining elements of capitalism and socialism, featuring both private enterprise and government intervention in the market.

Economic Record

A historical account of the financial performance and economic indicators of a specific entity, sector, or country.

The Soviet Union

A previously existing federal socialist nation in northern Eurasia, officially recognized as the Union of Soviet Socialist Republics (USSR) from 1922 to 1991.