Which statement is true about terms of trade credit of 2/10, net 30? a. A 10% cash

Fantastic news! We've Found the answer you've been seeking!

Question:

Which statement is true about terms of trade credit of 2/10, net 30?

a. A 10% cash discount is offered for payment before 30 days

b. A 2% cash discount can be take for payment before the 10th of the following month

c. A 10% cash discount can be taken if paid by the second day after invoicing

d. No cash discount is offered after the tenth day

Related Book For answer-question

Basic Finance An Introduction to Financial Institutions Investments and Management

ISBN: 978-1111820633

10th edition

Authors: Herbert B. Mayo

See More Books

Posted Date: Nov 01, 2022 08:57 AM

See More Questions

Which of the following terms of trade credit is the more expensive? a. A 3 percent cash discount if paid on the 15th day with bill due on the 45th day 3/15, net 45) b. A 2 percent cash discount if...
Which statement is true for an electron moving in opposite direction of an electric field? 1 In poteutial energy increases as its kinetic energy decreases 2. There is no change in the potential...
According to this model, which statement is true about the energy-level spacing of dots of different sizes? (a) Smaller dots have equally spaced levels, but larger dots have energy levels that get...
Melissa is a sole trader. Her capital gains and capital losses for 2020-21 are 27,000 and 700 respectively. She has capital losses brought forward from 2019-20 of 12,900 and she also has unrelieved...
The financial statement columns of the worksheet for Melton Company as of December 31, 2008 are as follows: Instructions Prepare a classified balance sheet for Melton Company. The financial statement...
Describe how social media affects the push-pull dynamic of distribution?
How do the notions of going concern and gone concern affect ecological statements?
A horticulturist is studying the relationship between tomato plant height and fertilizer amount. Thirty tomato plants grown in similar conditions were subjected to various amounts of fertilizer over...
You're building a CMO from this collateral Term (yr) 30 Term (month) 360 Net (Coupon) 6.50% Gross (WAC) 7.50% Notional $100,000,000 PSA 200.00% You have three clients ? Bank that wants a <2yr Average...
The MFG Corporation is planning to produce and market three different products. Let x1, x2, and x3 denote the number of units of the three respective products to be produced. The preliminary...
Question 1 - Environment Impact Assessment A foreign company seeks to build a factory to manufacture face masks and hand sanitizers. They have purchased an empty lot within an industrial zone whilst...
A uniform magnetic field exists in a cuboidal volume of space with $l=3 \mathrm{~cm}, b=2 \mathrm{~cm}$, and $h=1 \mathrm{~cm}$. If the magnetic energy stored in the volume is $10 \mathrm{~J}$,...
Calculate the length of the cylindrical solenoid that has 900 windings, such that the radius of each winding is $2 \mathrm{~cm}$, that shows an inductance of $8.5 \times 10^{-2} \mathrm{H}$.
You have a circular wire loop of radius $a=20 \mathrm{~cm}$. It carries a current that increases linearly from 0 to $5 \mathrm{~A}$ in $0.01 \mathrm{~s}$. At the center of this loop is a wire...
To construct a solenoid having cross-sectional area $1.256 \times 10^{-3} \mathrm{~m}^{2}$ and 500 windings that can produce a magnetic field of $10 \times 10^{-3} \mathrm{~T},$ (a) calculate the...
Large maps are printed on a plotter and rolled up. The supervisor randomly selects 12 printed maps and unfolds a part of each map to verify the quality of the printing. List one condition under which...
Jane Doe opens a financial consulting company called Doe Co. on March 1, 2003. The company completed the following transactions in March: March 1 1 5 10 12 15 15 17 20 21 25 30 30 Jane Doe invested...
Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1 to N. You see a cable car at random; it is numbered 203. You wish to estimate N. (See Goodman,...
A $1,000 bond has a coupon of 6 percent and matures after 10 years. a. What would be the bond's price if comparable debt yields 8 percent? b. What would be the price if comparable debt yields 8...
The futures price of corn is $3.40 a bushel. Futures contracts for corn are based on 10,000 bushels, and the margin requirement is $2,000 a contract. You expect the price of corn to fall and sell the...
Given the following information, construct the firms balance sheet: Cash and cash equivalents..............$ 300,000 Accumulated depreciation on plant and equipment....800,000 Plant and...
The standard enthalpy change of combustion of acetylene is $-1300.48 \mathrm{~kJ}$ at $298 \mathrm{~K}$ with $\mathrm{H}_{2} \mathrm{O}$ in the liquid state. Calculate the standard enthalpy of...
Which instrument is used to determine the heat of combustion of a fuel?
A piston-cylinder device contains $1.2 \mathrm{~kg}$ of saturated water vapour at $180^{\circ} \mathrm{C}$. Heat is transferred to steam. As a result, steam expands reversibly to a final pressure...

Which statement is true about terms of trade credit of 2/10, net 30? a. A 10% cash

Question:

Expert Answer:

Answer B A 2 cash discount can be taken for payment before the 10th of the follow... View the full answer

Basic Finance An Introduction to Financial Institutions Investments and Management

Students also viewed these accounting questions