passwella.
Menu

JAMB Commerce 2012 Question 12

Question 12

Purchase and Sale of Goods

If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as

  1. A.3/9;net 30
  2. B.9/27;net 30
  3. C.30;net 9/3
  4. D.9/30;net 3.
Show the answer and explanation

Answer: A (3/9;net 30)

Explanation

Terms are written as discount/days, then the full credit period: 3% if paid within 9 days, otherwise the net amount within 30 days.