All categories

2 years ago

_____ are specific repayment conditions as to how long customers have to pay bills and the amount of cash discount allowed.

1 answer:

7 0

Credit terms are specific repayment conditions as to how long customers have to pay bills and the amount of cash discount allowed.

<h3>What is the purpose of credit terms?</h3>

Credit terms are the payment requirements stated on an invoice. It is fairly common for sellers to offer early payment terms to their customers in order to accelerate the flow of inbound cash.

Credit means a loan, an agreement in which the lender (creditor) supplies the borrower with money, goods or services which is to be returned in future. Terms of credit apart from the rate of interest, collateral also includes documentation, mode of repayment.

To learn more about credit terms visit the link

brainly.com/question/13019978

#SPJ4

You might be interested in

Which of the following statements is true of process costing? A. It tracks and assigns both period costs and product costs to u

Dahasolnce [82]

Answer:

B) It accumulates product costs by production departments.

Explanation:

Process cost is used to ascertain the cost of a product at all stages of production. Total cost is an addition of all the individual process costs. Usually this is used in companies that produce homogeneous goods.

For example manufacturers for processed foods, and chemicals.

7 0

3 years ago

Last year, a small nation with abundant forests cut down $200 worth of trees. $100 worth of trees was then turned into $150 wort

borishaifa [10]

Answer:

$400

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

Inventory grew by (200 - 100) $100

$50 of value was created

total gdp = $100 + $250 + 50 = $400

4 0

3 years ago

Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct

MaRussiya [10]

Answer:

c. Under applied $ 1,340

Explanation:

Computation of predetermined overhead rate

Estimated manufacturing overhead $ 594,960

Estimated direct labor hours 22,200 hours

Predetermined overhead rate per direct labor hour

$ 594,960 / 22,200 hours $ 26.80 per hour

Actual Direct Labor hours 22,150 hours

Applied overhead at predetermined direct labor rate

$ 26.80 * 22,150 hours $ 593,680

Actual overhead <u>$ 594,960</u>

Overhead under applied $ ( 1,340)

5 0

3 years ago

Which of the following statements is true? The lower the discount rate that funds are invested at, the greater the future value.

Snowcat [4.5K]

Answer: The longer the time period that funds are invested, the greater the future value.

Explanation:

When we are discussing about the time value of money, we are simply saying that it's better for one to have money today than wait till the future to have that particular amount of money. For example, if someone tells you to either collect $100 today or wait till next month to collect the $100 bill. According to the time value of money, it's better to collect it now as the person can invest with it and by the time it's a month, the value of the money will be more than $100.

The longer the time period that funds are invested, the greater the future value. This is because for example if for example one keeps $100 for 1 year at 6% per annum, the interest will be $6 for a year but if it's kept for 5 years, the simple interest will be $30.

This shows that the longer the time period that funds are invested, the greater the future value.

8 0

3 years ago

Total quality management theorizes that if workers are more responsible, they will ______.

Mkey [24]

A. Increase oveeall quality

8 0

3 years ago

Read 2 more answers