What Does "2/10" Mean, with Respect to "Credit Terms of 2/10

question 158

Multiple Choice

What does "2/10" mean, with respect to "credit terms of 2/10, n/30"?

• A)A discount of 2% will be allowed if invoice is paid within 10 days from the date of the invoice .
• B)An interest of 2% will be charged if invoice is paid after 10 days from the date of invoice.
• C)A discount of 10% will be allowed if invoice is paid within 2 days from the date of invoice.
• D)An interest of 10% will be charged if invoice is paid after 2 days.

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Definitions:

Mental Processes

are activities of the mind involved in thinking, understanding, learning, and remembering.

Executive Control Functions

Cognitive processes including planning, working memory, attention, problem solving, verbal reasoning, inhibition, mental flexibility, task switching, and initiation and monitoring of actions.

Practical Intelligence

A form of intelligence related to the ability to solve everyday problems by utilizing experience-based knowledge.

Gardner

Refers to Howard Gardner, a psychologist known for his theory of multiple intelligences, which suggests people have different kinds of intelligences.