1/15 Net 30 Date of Invoice Translates as ________

question 13

Multiple Choice

1/15 net 30 date of invoice translates as ________.

• A) a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month
• B) a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date
• C) a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month
• D) a 1 percent discount may be taken on 15 percent of the purchase if the account is paid within 30 days after the end of the month

---

Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a certain period.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.

Surplus

The amount by which the quantity supplied of a product exceeds the quantity demanded at a specific price.

Quantity Supplied

The total amount of a particular good or service that producers are willing and able to sell at a given price over a specified period.