Mrs. Matthews has received an invoice from the manufacturer for which she distributes products. The invoice states credit terms of 3/10, net/30. Puzzled by this, she calls on you to explain. You indicate that the notation 3/10 means that

A. she may take a 30 percent discount if she pays the invoice within three days.
B. she must pay the entire amount in three days.
C. after three days, she must pay the new amount in ten days.
D. her line of credit is equivalent to three-tenths of the dollar value of her business.
E. she may take a 3 percent discount if she pays the invoice within ten days.


Answer: E

Business

You might also like to view...

The dividends account for a corporation is similar to the drawing account for a partnership

Indicate whether the statement is true or false

Business

Cookies are files created by user computers and stored on Web servers

Indicate whether the statement is true or false

Business

A continuous random variable may assume

A. all values in an interval or collection of intervals. B. only integer values in an interval or collection of intervals. C. only fractional values in an interval or collection of intervals. D. all the positive integer values in an interval.

Business

Historically, the average time to service a customer complaint has been 3 days and the standard deviation has been 0.50 day. Management would like to specify the control limits for an chart with a sample size of 10- and 3- sigma limits

The LCL for the chart would be: A) less than 2.40. B) greater than 2.40 but less than or equal to 2.45. C) greater than 2.45 but less than or equal to 2.50. D) greater than 2.50.

Business