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The single equivalent discount rate of the trade discount 5/4/1 is
re there 3 successive discounts 5%, 4% and 1% ? if 3 successive discount, a, b and c then net discount = a + b + c – (ab/100 + bc/100 + ca/100 – abc/10000) = 5 + 4 +1 – (20/100 + 4/100 + 5/100 – 20/10000) = 9.712 % = 0.09712
Expert answered|latefisher|Points 2049|
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Asked 6/7/2012 9:49:42 PM
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Updated 3/6/2013 8:55:24 PM
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4/10, n/30 R.O.G. means a 4 percent discount can be taken within 10 days before recept of goods. This statement is False . The correct accounting interpretation is 4% discount for the payment within 10 days and the full amount to be paid within 30 days
Added 3/6/2013 8:26:00 PM
This answer has been flagged as incorrect.
Flagged by debnjerry
4/10, n/30 R.O.G. means a 4 percent discount can be taken within 10 days before receipt of goods. This is false. R.O.G. means the discount can be taken within 10 days AFTER receipt of goods.
Added 3/6/2013 8:54:23 PM
This answer has been added to the Weegy Knowledgebase
mouthofdasouth, please answer in a sentence that restates the question and provide a source for you answer.
Please read the basic rules
Added 3/6/2013 8:55:28 PM
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2/10, E.O.M. means the credit period ends 20 days after the end of the discount period. a. True b. False
Weegy: Indication "2/10, n/30" (or "2/10 net 30") on an invoice represents a cash (sales) discount provided by the seller to the buyer for prompt payment. The term 2/10, [ n/30 is a typical credit term and means the following: "2" shows the discount percentage offered by the seller. "10" indicates the number of days (from the invoice date) within which the buyer should pay the invoice in order to receive the discount. "n/30" states that if the buyer does not pay the (full) invoice amount within the 10 days to qualify for the discount, then the net amount is due within 30 days after the sales invoice date. The terms offered by the seller usually depend on the trade custom. Some variations of the cash discount terms, among others, may be "2/15, n/30" (2% discount for the payment within 15 days and the full amount to be paid within 30 days) or "n/10 EOM" (the invoice is due and payable 10 days after the end of the month in which the sale occurred). Hence it's False. ] (More)
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