Author Question: Which statement below best explains the credit terms of 2/10, n/30? A) The buyer will receive a 2 ... (Read 69 times)

Sportsfan2111 · **on:** Jul 5, 2018

Which statement below best explains the credit terms of 2/10, n/30?

A) The buyer will receive a 2 percent discount if it pays within ten days of the purchase.
B) The buyer will receive a 10 percent discount if it pays within two days.
C) The buyer will receive a 10 percent discount if it pays within thirty days.
D) The buyer will receive a 2 percent discount if it pays within thirty days.

Question 2

The statement of owner's equity shows
a. only net income, beginning and ending capital
b. only total assets, beginning and ending capital
c. only net income, beginning capital, and withdrawals
d. beginning and ending capital and all the changes in the owner's capital as a result of net income (loss), and withdrawals