Answer:
(a) 2%
(b) 40 days
Explanation:
given data
purchased = $5,000
solution
we have given term 2/10, n/40
so payment is done with in 10 days from date of purchase
so 2 % discount is allowed
and
term show that due date for payment is 40 days from date of purchase
if we not done with in limit
so it is consider as a late
Answer: The correct answer is "D. Its standards apply to all types of businesses, including electronics and chemicals.".
Explanation: The ISO 9000 standards are a set of Quality Control and quality management, established by the International Organization for Standardization (ISO). They can be applied in any type of organization or activity oriented to the production of goods or services. The standards include both the minimum content and the specific implementation guides and tools as well as the audit methods.
Answer:
The answer is B.
Explanation:
Let's define the terms:
Short-term obligation is the obligation that will be repaid within a year. For example, a six-month loan or 12-month loan.
Long-term obligation is the obligation that will be repaid more than a year. For example, a bond.
Refinancing a loan is the process of repaying an existing loan with a new loan.
Refinancing a short term obligation on a long term means to replace short-term loan with a long term loan for an uninterrupted period extending beyond one year.
Under U.S. GAAP, there are certain conditions to be met before recognizing short-term obligations as long-term obligations:
if an entity has the intent and ability to refinance the obligation on a long-term basis, as demonstrated by either (1) the issuance of a long-term obligation or equity securities after the balance sheet date or (2) a financing agreement that clearly permits the entity to refinance on a long-term basis.