If a Buyer Is Offered the Terms of Sale of "3/10

question 253

True/False

If a buyer is offered the terms of sale of "3/10, net 30" this means that the buyer can receive a 10 percent discount by making full payment within 30 days of the billing date.

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Definitions:

Trustbusters

Refers to government officials or policies that aim to break up or regulate monopolies and ensure competition in the marketplace.

FTC Act

Legislation established to prevent unfair competition, deceptive acts, and regulate antitrust.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed by Congress in 1890 to preserve competitive market conditions by prohibiting monopolies, cartels, and trusts.

Vertical Mergers

The combination of two or more companies that operate at different stages of production in the same industry, such as a manufacturer merging with a supplier.