True or False2/10, n/45 is credit term that allow for a 2% discount within 10 days of thepurchase and no discount at all within 45 days of the date of the purchase *TrueFalse5/10, n/30 is a credit termn that allow for 5% discount within the period of 10 daysTrueFalseThis is a required questionFOB shipping point is a shipping term that would typically means that the buyerhas to pay the freight charges

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2/10, n/45 is credit term that allow for a 2% discount within 10 days of the purchase and no discount at all within 45 days of the date of the purchase True False 5/10, n/30 is a credit term that allow for 5% discount within the period of 10 days True False This is a required question

2/10, n/45 is credit term that allow for a 2% discount within 10 days of the purchase and no discount at all within 45 days of the date of the purchase True False 5/10, n/30 is a credit term that allow for 5% discount within the period of 10 days True False This is a required question

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

True or False
2/10, n/45 is credit term that allow for a 2% discount within 10 days of the
purchase and no discount at all within 45 days of the date of the purchase *
True
False
5/10, n/30 is a credit termn that allow for 5% discount within the period of 10 days
True
False
This is a required question
FOB shipping point is a shipping term that would typically means that the buyer
has to pay the freight charges

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