Examlex
Describe the differences between male and female brains and discuss what conclusions can be drawn from research on gender differences and the brain.
Terms 2/10, N/30
Payment terms indicating that a buyer can take a 2% discount if the bill is paid within 10 days, with the net amount due in 30 days.
Net Method
An accounting technique where discounts for early payment are assumed to be taken, reducing the amount recorded as accounts receivable.
Periodic Inventory System
An inventory valuation method where the inventory count and cost of goods sold is determined at the end of the accounting period.
Terms 4/15, N/60
A commercial credit term indicating that a 4% discount is available if paid within 15 days, with the net (full) amount due within 60 days.
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