If an invoice lists the terms of trade credit as 2/10 net 30, it means that the supplier is offering a 10 percent cash discount off the invoice price if the buyer pays within 2 days.
Answer the following statement true (T) or false (F)
False
In most cases, the terms of trade credit are presented on the invoice the supplier includes with the shipment. For example, the invoice might list the terms as 2/10 net 30. The "net 30" indicates that the supplier allows the buyer 30 days before payment is due. But the "2/10" tells the buyer that the supplier is offering a 2 percent discount off the invoice price if the buyer pays within 10 days. See 9-3: Finding Funds: What Are the Options?
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Indicate whether the statement is true or false
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