Percentage Discounts from Gross Invoice Amounts Provided to Encourage Prompt

question 39

Multiple Choice

Percentage discounts from gross invoice amounts provided to encourage prompt payment is referred to as:

• A)core discount.
• B)trade discount.
• C)non cash incentives.
• D)consignment.

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Definitions:

Average Number

The average number represents the central value or the arithmetic mean obtained by dividing the sum of a set of numbers by the count of numbers in the set.

System

An organized and interconnected set of elements and processes that define a complex whole within a particular environment.

Servicing Rate

The Servicing Rate is the percentage of a loan amount charged to service a loan, including management of the account, collections, and customer service.

Average Service Time

The mean time taken to complete a service task, often used as a metric in operations management and customer service analysis.