Question

The terms of sale are best defined as the

Answer 1

Group of answer choices.

A. total invoice amount including all shipping costs and taxes.

B. legal documents related to the credit sale of either goods or services.

C. conditions under which a firm sells its goods or services for either cash or credit.

D. process used to determine which customers will be granted credit and which will not.

E. period of time during which a sale price applies.

Answer:

C. conditions under which a firm sells its goods or services for either cash or credit.

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks, etc.

On the other hand, a service can be defined as a collection of intangible goods that are being offered by a service provider to the end user in order to meet their needs or requirements. Thus, it is any intangible offering that involves a deed, performance, or effort that cannot be physically possessed by the service takers.

A term of sales can be defined as an agreement that exists between the seller of a goods or services and a buyer (consumer).

In Economics, the terms of sale are best defined as the conditions under which a firm sells its goods (products) or services for either cash or credit, especially when both parties have agreed on quantity, quality, price, payment type, delivery, warranty, etc.