An Invoice for $620 Dated November 5 with Payment Terms

question 149

Multiple Choice

An invoice for $620 dated November 5 with payment terms of 3/10, 2/15, n/30, was paid in full on November 15. What was the amount paid?

• A) $18.60
• B) $613.80
• C) $620.00
• D) $607.60
• E) $601.40

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Definitions:

Statute

A written law passed by a legislative body at the federal or state level, formally codified and enforceable by legal authorities.

Provincial Statute

A law enacted by the legislative body of a province or territory within a federal system of government.

Common Law

Common law is a body of unwritten laws based on legal precedents established by the courts and is used as a basis for decision-making in cases not covered by statutory law.

Copyright Act

A legal statute that protects the rights of creators by giving them exclusive control over the use and distribution of their original works.