A Retailer Purchases Merchandise with a Catalog List Price of $30,000

question 144

Multiple Choice

A retailer purchases merchandise with a catalog list price of $30,000. The retailer receives a 15% trade discount and has credit terms of 2/10, n/30. How much cash will be needed to pay this invoice within the discount period?

• A) $30,000
• B) $24,900
• C) $29,400
• D) $24,990

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Definitions:

Competence

In self-determination theory, feeling effective in one’s interactions with the social environment and experiencing opportunities to exercise and express one’s capacities.

Proximal Processes

Reciprocal interactions between a person and her immediate external environment, including other people, the physical environment, or informational sources such as books or movies. In Bronfenbrenner’s biological model, all developments are a function of these processes.

Bronfenbrenner's Model

A theoretical model proposing that human development is influenced by various types of environmental systems, from immediate family to broader societal contexts.

Immediate Environment

denotes the direct surroundings or conditions in which a person lives or operates, impacting their behavior and development.