Credit Terms of a Merchandising Company Are: 1/15, Net 40

question 92

True/False

Credit terms of a merchandising company are: 1/15, net 40. This means that the buyer can avail a discount of 1 percent, if the invoice is paid within 40 days of the invoice date.

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Definitions:

Ptolemy's

Refers to the works and theories of Claudius Ptolemy, a Greco-Roman mathematician, astronomer, and geographer, best known for his geocentric model of the universe and the influential text "Almagest."

Blood Circulated

The continuous movement of blood through the heart and blood vessels, which delivers nutrients and oxygen to the body while removing waste products.

William Harvey

William Harvey was a 17th-century English physician who made groundbreaking contributions to anatomy and physiology, notably describing the circulatory system and the motion of blood in the body.

Astrology

The study of the movements and relative positions of celestial bodies interpreted as having an influence on human affairs and the natural world.