Which statement below best explains the credit terms of 2/10, n/30?
A) The buyer will receive a 2 percent discount if it pays within ten days of the purchase.
B) The buyer will receive a 10 percent discount if it pays within two days.
C) The buyer will receive a 10 percent discount if it pays within thirty days.
D) The buyer will receive a 2 percent discount if it pays within thirty days.
A
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Which of the following violates the AICPA's Code of Professional Conduct?
a. A member not in public practice is a bank controller who is designated as a CPA on bank stationery and in bank advertisement listing officers of the bank b. A member contracts with a service entity to maintain a client's computer hardware and charges the client a higher servicing fee than that charged to the member by the service provider c. A partner in a CPA firm is elected to public office. After her withdrawal from the firm, the remaining partners continue to use a firm name that includes her name d. A member shares offices with another member. Their joint letterhead implies that a partnership exists when each member is in fact practicing individually
If a firm wishes to invest cash that might be needed at short notice in the very near future, they would be most likely to invest in which of the following securities?
A) Treasury bills B) certificates of deposit C) repurchase agreements D) banker's acceptances