In the Credit Terms of 2/10,n/30,what Does the 2/10 Mean

question 128

Multiple Choice

In the credit terms of 2/10,n/30,what does the 2/10 mean?

• A) The invoice must be paid in 2 days or a 10% late charge will be assessed.
• B) The invoice was printed 2 days after the sale and is due in 10 days.
• C) The goods shipped took 2 days to arrive and the charge was $10.00.
• D) The purchaser may take a 2% discount if the invoice is paid in 10 days.

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Definitions:

Society of Worldwide Interbank Financial Telecommunications

An international messaging network that financial institutions use for securely transmitting information and instructions related to financial transactions.

International Payment Transfers

Financial transactions that involve the sending of money across international borders.

Global Telecommunications

Worldwide infrastructure and services for the exchange of information through electronic networks.

Commercial Letter

A formal document used in business transactions that typically contains specific information and terms regarding a deal or agreement.