Characterize EACH of the Following Statements as Being TRUE or FALSE

question 41

Multiple Choice

Characterize EACH of the following statements as being TRUE or FALSE and then indicate the collective true-false status using the choices provided. (1) The number of elements that are metals and nonmetals is approximately equal.
(2) The number of orbitals present in an electron subshell is always six.
(3) An atom as a whole is electrically neutral because all charged subatomic particles reside in the nucleus.

• A) All three statements are true.
• B) Two of the three statements are true.
• C) Only one of the statements is true.
• D) None of the statements is true.

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Definitions:

Average Collection Period

The average number of days that it takes for a business to receive payments owed by its customers, calculated by dividing the accounts receivable balance by the average daily sales.

Credit Terms

The conditions under which a seller will extend credit to a buyer, including the repayment period, discount for early payment, and the rate of interest if applicable.

Discount

A reduction applied to the usual cost of goods or services or the process of determining the present value of future cash flows.

Net 45

A payment term indicating the buyer must complete payment within 45 days from the invoice date.