A $7,350 Invoice Dated August 3 Has Payment Terms of 4/10

question 45

Multiple Choice

A $7,350 invoice dated August 3 has payment terms of 4/10, 2/30, n/60. If the invoice is paid on August 20 how much must the payment be?

• A) $7,497
• B) $6,832
• C) $6,615
• D) $7,056
• E) $7,203

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Definitions:

Functional Lines

The division of a business into departments or teams based on functions such as marketing, finance, or operations.

Functional Expertise

Specialized knowledge and skills in a particular area or department within an organization that contribute to its efficiency and success.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, typically resulting from factors like mass production and bulk purchasing.

Functional Lines

The demarcation of responsibilities and tasks in an organization based on specific functions such as marketing, finance, or human resources.