Asked by Talin Mirzaei on Jul 09, 2024
Verified
In credit terms of 3/15, n/45, the "3" represents the
A) number of days in the discount period
B) full amount of the invoice
C) number of days when the entire amount is due
D) percent of the cash discount
Percent Of Cash Discount
The percentage reduction in price offered for prompt payment of invoices to encourage early settlement of accounts payable.
- Gain an understanding of credit agreements and their impact on financial dealings.
Verified Answer
JG
Jessica GomezJul 12, 2024
Final Answer :
D
Explanation :
The "3" in the credit terms 3/15, n/45 represents the percent of the cash discount offered for early payment.
Learning Objectives
- Gain an understanding of credit agreements and their impact on financial dealings.
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