if a company sells merchandise with credit terms 2/10 n/60, the credit period is 10 days and the discount…

if a company sells merchandise with credit terms 2/10 n/60, the credit period is 10 days and the discount period is 60 days. true or false true false

if a company sells merchandise with credit terms 2/10 n/60, the credit period is 10 days and the discount period is 60 days. true or false true false

Answer

Answer:

False

Brief Explanations:

In credit terms like 2/10 n/60, the discount period is 10 days (customers can take a 2% discount if they pay within 10 days), and the credit period is 60 days (the total time allowed for payment without the discount). So the statement has the credit and discount periods reversed.