Goods Totaling $56,000 Purchased August 2 on Terms of 2/10,n/30

question 35

Multiple Choice

Goods totaling $56,000 purchased August 2 on terms of 2/10,n/30 and on which returns of $2,000 were made on August 10 would be subject to which of the following discounts if paid for on August 12?

• A) $1,080
• B) $1,120
• C) $1,160
• D) $40

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Definitions:

Retrenchment

A strategy used by organizations to reduce their scale or scope in response to financial pressures, often involving cost-cutting measures and reductions in workforce.

Organizational

Relating to the structure or functioning of an organization or the collective group organized for a particular purpose.

Operational

Pertaining to the daily activities and functions necessary for an organization or system to run efficiently and effectively.

State of Crisis

A situation or period in which an organization or community faces significant challenges or threats that require immediate and effective response.