If a Firm Grants Credit with Terms of 3/10, Net

question 4

Multiple Choice

If a firm grants credit with terms of 3/10, net 30, the customer

• A)must pay a penalty of 3 percent when payment is made in more than 10 days after the sale.
• B)must pay a penalty for 10 percent when payment is made in more than 3 days after the sale.
• C)receives a discount of 3 percent when payment is made in less than 10 days after the sale.
• D)receives a discount of 10 percent when payment is made in less than 3 days after the sale.

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Definitions:

Best Friends

Best friends are individuals who share the closest possible friendship, marked by strong bonds of loyalty, trust, and mutual affection.

Confidants

Individuals with whom one shares personal information or secrets, trusted friends or advisers.

Hostile Siblings

Brothers or sisters who show aggression, competition, or animosity towards each other, potentially impacting family dynamics.

Resentful

Characterized by feelings of bitterness or indignation due to perceived unfair treatment or actions.