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The term 2%/15 net 30 represents a

Commerce
WAEC 2023

The term 2%/15 net 30 represents a

  • A. seasonal discount
  • B. quantity discount
  • C. cash discount
  • D. trade discount
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option C
Explanation

2%/15 net 30 means that if the customer pays within 15 days of receiving the goods, he may take 2% off the amount stated in the invoice, if does not, he will have to pay the full stated in the invoice within 30 days.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts