The Arrangements Between Buyer and Seller as to When Payments

question 184

Multiple Choice

The arrangements between buyer and seller as to when payments for merchandise are to be made are called

• A) credit terms
• B) net cash
• C) cash on demand
• D) gross cash

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Definitions:

Semiprogrammed Decisions

Decisions that are made with a mix of established procedures and the judgment of the decision-maker, often used when faced with partially known circumstances.

Contingent Decisions

Contingent decisions are decisions made based on certain conditions or situations arising, meaning they are dependent on particular events or circumstances.

Nonprogrammed Decisions

Decisions that are unique, require custom solutions, and are typically made in response to situations that are novel, unstructured, and not anticipated.

Programmed Decisions

Decisions that are routine and repetitive, often automated, and based on established policies or procedures.