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In ABC, how is the activity allocation rate computed?
Terms 2/10, N/30
Payment terms indicating a 2% discount is available if payment is made within 10 days; otherwise, the net (full) amount is due within 30 days.
Gross Price Method
A pricing strategy where the price of a product or service includes all taxes, tariffs and fees that may apply to the transaction.
Sales Discounts
A reduction in the price of a product or service that is offered to a customer to encourage timely payment.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services provided on credit, recognized as an asset on the balance sheet.
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