A Firm's Credit Terms Specify "1/10 Net 30" and the Accounts

question 52

Multiple Choice

A firm's credit terms specify "1/10 net 30" and the accounts receivable days outstanding is 32 days. Which of the following can be concluded on the basis of this information?

• A) Most customers pay on time.
• B) The average customer pays two days late.
• C) All customers have paid within 32 days of purchase.
• D) All customers pay late.

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Definitions:

Reflexes

Automatic, involuntary responses to specific stimuli that are designed to protect the body and maintain homeostasis, occurring without conscious thought.

Knee-Jerk Reflex

Another term for the patellar reflex, indicating the spontaneous kicking movement of the lower leg in response to a sharp tap on the patellar tendon.

Inhibitory Interneurons

Neurons that decrease the likelihood of a target neuron firing, playing a key role in the modulation of neural circuits.

Gamma Motor Neurons

Neurons that control the sensitivity of muscle spindle fibers to stretch, thereby adjusting the tension of muscles.