Question Ten To One Gaming Corporationpurchases poker chips from wholesalers and

Question

Question

Ten To One Gaming Corporationpurchases poker chips from wholesalers and sells them to casinos inLas Vegas and
Atlantic City. The company gets all of its merchandise from asupplier in Minnesota and always buys on credit with
credit terms of 2/10, n/30. Which statement below best explains thecredit terms of 2/10, n/30?

A)

The buyerwill receive a 2% discount if they pay within ten days of thesale

B)

The buyerwill receive a 10% discount if they pay within two days of thesale

C)

The buyerwill receive a 10% discount if they pay within thirty days of thesale

D)

The buyerwill receive a 2% discount if they pay within thirty days of thesale

Question

Explanation / Answer

A. The buyer will receive a 2 % discount if they pay within 10 daysof the sale.

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