In Relation to Discount Terms, What Does 2/10, N/30 Mean

question 41

Multiple Choice

In relation to discount terms, what does 2/10, n/30 mean?

• A) Invoice due on 2^nd October or 30 November
• B) 2 10ths = 20% discount, not 30%
• C) 20% discount, November 30th
• D) 2% discount to be deducted from the invoice price if payment is made within 10 days or the full amount is due within 30 days of the invoice date

Identify how agency relationships impact contractual obligations.

Understand the doctrine of respondeat superior and its application in liability cases involving employees or agents.

Recognize the requirements for properly terminating an agency relationship and the importance of notice to third parties.

Differentiate between expressed agency, implied agency, apparent agency, and agency by ratification.

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Definitions:

Historical Forces

Factors and events from the past that have a significant impact on the present and future course of society.

Family Structure

The composition and organization of a household, including the relationships and roles of its members.

Sect

Group that has broken off from an established church.

Church

A formal organization that sees itself and is seen by society as a primary and legitimate religious institution.