Eli Company Eli Company Sells Novelty Items and Offers Terms

question 11

Multiple Choice

Eli Company Eli Company sells novelty items and offers terms of 1/10,n/30 to credit customers.One customer,Faulkner,Inc. ,purchased 100 Sweet-16 party decor packs with a list price of $20 each on March 5,2013.
-Refer to the information provided for Eli Company.If the customer pays the invoice on March 31,2013,how much sales discount will Eli Company recognize?

• A)$ -0-
• B)$ 20
• C)$200
• D)$600

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Definitions:

Business Ethics

The principles and standards that guide behavior in the world of business, ensuring fairness, transparency, and integrity.

Telecommuting Employees

Workers who operate outside of a traditional office environment, often from home, using technology to perform their job duties.

Business Environments

The combination of internal and external factors that influence a company's operating situation.

Offices

Designated workspaces within a building where administrative or professional activities are conducted.