What Is the Meaning of the Term '2/10 Net 30

question 94

Multiple Choice

What is the meaning of the term '2/10 net 30'?

• A)If the invoice is paid within 10 days, a 2% discount can be taken. If the invoice is paid between 11 and 29 days a 1% discount can be taken. After 30 days the full invoice is due.
• B)If the invoice is paid within 10 days, a 2% discount can be taken; otherwise the full invoice is due in 30 days.
• C)If the invoice is paid within 2 days, a 10% discount can be taken; otherwise the full invoice is due in 30 days.
• D)If the invoice is paid within 2 days, a 10% discount can be taken; otherwise a 2% discount can be taken if the invoice is paid in 30 days.

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Definitions:

Unpopped Kernels

The hard, unexploded seeds of corn that remain after attempting to pop corn, typically found at the bottom of the popcorn maker or container after cooking.

Microwave Popcorn

A type of popcorn that's designed to be cooked in a microwave oven, often packaged in a paper bag with kernel, oil, and flavorings.

Reduced-Fat Cookies

Cookies formulated with lower amounts of fat compared to their traditional counterparts.

Grams of Fat

A measurement of fat content often found on nutritional labels, indicating the mass of fat present in a food item.