An Invoice of $600 for Merchandise Purchased Is Showing 2/15,n/30

question 230

Multiple Choice

An invoice of $600 for merchandise purchased is showing 2/15,n/30 as terms of credit.If the invoice is paid on or before the fifteenth day after the invoice date,the amount to be paid is ________.

• A)$588
• B)$600
• C)$612
• D)$615

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Definitions:

Labor

The human effort, both physical and mental, contributed towards the production of goods and services.

Interest Rate

The part of a loan that incurs interest fees for the borrower, often shown as an annual percentage rate of the total amount borrowed.

Garden Gnomes

Decorative statues that represent humanoid figures, often placed in gardens or outdoor areas for ornamentation.

Long-Run Equilibrium

A state in which all factors of production and outputs are fully adjusted to each other, and all economic forces are in balance, with no surplus or shortage.