Exit Ticket MFB

4/10, n/30, ROG means a 4% discount can be taken within 10 days before the receipt of goods. True or False

2/10, EOM means that the cash discount period ends on the tenth day of the month that follows the sale, as long as the invoice is dated 25th or earlier in the month. True or False

2/10, EOM means the credit period ends 20 days after the end of the discount period. True or False

 Goods sold after the 25th of the month with terms of 2/10, EOM results in the discount period being extended 10 days longer. True or False

The complement of 35% is:

• 53%

• 65%

• 56%

• 165%

The net price equivalent rate of 9/15/18 is:

• 0.36573

• 0.63573

• 0.36427

• 0.63427

 The single equivalent discount rate of the trade discount 5/4/1 is:

• 0.09712

• 0.90288

• 0.00002

• 0.99998

Cash discounts are:

• Always calculated on list price

• Sometimes calculated with freight

• Sometimes calculated with returned goods

• Never calculated on freight and returns

 FOB shipping point means:

• Seller pays the cost of freight

• Buyer pays the cost of freight

• Title to goods shifts to buyer while being shipped

• Seller cannot pay cost of freight

200 days from March 3 is:

• September 18

• September 17

• September 19

• September 20