If a Company Sells Merchandise with Credit Terms 2/10 N/60

question 25

True/False

If a company sells merchandise with credit terms 2/10 n/60, the credit period is 10 days and the discount period is 60 days.

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Definitions:

Follow-Up

Phase of production control in which employees and their supervisors spot problems in the production process and determine needed adjustments.

Installation

The process of setting up a piece of equipment or software to be ready for use.

Virtual Approach

A strategy that involves using digital technologies and the internet to conduct business activities, largely reducing or eliminating the need for physical presence.

Qualify Sales Prospects

The process of assessing potential sales leads to determine whether they have the need, authority, and financial capacity to purchase a product or service.