Question

1.An invoice for $600 is dated August 24 and carries sales terms of 1/5. n/30. The amount

which should be remitted on September 4 to satisfy the obligation is

a. 776

b. 560

c.760

d.800

e. None of the above

2. An invoice for $800.00 dated January 24 and carries sales term of 3/10, 1/20, n/45. PROX. The amount which should be remitted

on February 8, to satisfy the obligation is

a. 776

b. 560

c. 760

d.800

e. None of the above

3. An invoice for $800.00 dated January 24 and carries sales term of 3/10, 1/20, n/45. PROX. The amount which should be remitted

on November 14, to satisfy the obligation is

a. 640

b.776

c.792

d. 746.67

e. None of the above

4. PROX, has the same meaning as

a. List Price

b. Sales Terms

c. E.O.M

d. R.O.G

e. None of the above.

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