The Term 2/10 Net 30 Means

question 40

Multiple Choice

The term 2/10 net 30 means:

• A)If the invoice is paid within 10 days,a 2% discount can be taken.If the invoice is paid between 11 and 29 days a 1% discount can be taken.After 30 days the full invoice is due.
• B)If the invoice is paid within 2 days,a 10% discount can be taken,otherwise the full invoice is due in 30 days.
• C)If the invoice is paid within 2 days,a 10% discount can be taken,otherwise a 2% discount can be taken if the invoice is paid in 30 days.
• D)If the invoice is paid within 10 days,a 2% discount can be taken,otherwise the full invoice is due in 30 days.

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Definitions:

Logical Structure

Logical Structure refers to the conceptual organization and framework of an entity, such as a database or computer program, independent of its physical organization.

Democratic

A system or process that is based on principles of equality and fairness, often involving collective decision-making.

Sales Quotas

Target sales figures assigned to sales teams or individuals to achieve within a specific time period.

Departmentalization

The organizational practice of dividing a business into separate departments, each handling specific tasks or functions.