Q.

Cash Discount term 3/15, net 40 means

A. 3% discount if payment in 15 days, otherwise full payment in 40 days,
B. 15% discount if payment in 3 days, otherwise full payment 40 days,
C. 3% interest if payment made in 40 days and 15%,interest thereafter,
D. none of the above.
Answer» A. 3% discount if payment in 15 days, otherwise full payment in 40 days,
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