_________ are used to calculate due dates and discount dates of transactions.

Question

BlackTom AI · Accepted Answer

The question asks: _________ are used to calculate due dates and discount dates of transactions.

Option 1: Statistics. This is about data collection and analysis, not about setting payment terms or calculation of due/discount dates. It does not directly relate to transaction date calculations.

Option 2: Codes. Codes can identify goods, accounts, or transactions, but they are not the mechanism used to calculate due dates or discount dates. They serve as labels or identifiers rather than date computation rules.

Option 3: Terms. This is the correct concept. In finance and accounting, terms define the payment conditions between buyers and sellers, including due date terms (e.g., net 30) and any discount terms (e.g., 2/10, net 30). These terms specify how and when payments are due and when discounts apply, which directly governs the calculation of due dates and discount dates.

Option 4: Variables. Variables are placeholders in formulas or programs and can be part of calculating dates, but they are not themselves the defined set of payment conditions used to calculate due dates and discount dates. They’re more about the mathematical or computational structure rather than the contractual terms.

In summary, while statistics, codes, and variables have roles in data handling or computation, the field-specific concept that directly governs how and when payments are due or discounted is terms. Therefore, among the options provided, Terms best answer the question.

SG30018E3 - Sage 300 2018 Accounts Receivable Final Exam

_________ are used to calculate due dates and discount dates of transactions.

View Explanation

Log in for full answers

Similar Questions

Referring to the A/R Terms report printed in Step 4 of the Practical Exam, how many days from the invoice date is the discount applicable for the Term Code 5N45?

If the vendor allows a discount when the invoice is paid within a specified number of days, this is known as:

In a consumer society, many adults channel creativity into buying things

Economic stress and unpredictable times have resulted in a booming industry for self-help products

People born without creativity never can develop it

A product has a selling price of $20, a contribution margin ratio of 40% and fixed cost of $120,000. To make a profit of $30,000. The number of units that must be sold is: Type the number without $ and a comma. Eg: 20000

Which of the following statement regarding cost is correct:

Under the assumptions used in cost-volume-profit analysis, as the activity increases:

More Practical Tools for Students Powered by AI Study Helper

Homework AI Solver

Stylized AI Paper Writer

Plagiarism Checker Assistant

Citation AI Academic Writing Tool

In-Class Translation Assistant

AI Note Generator

AI Quiz Answers

Past Exam Questions from University Test Bank

Smart Practice Assistant

Adaptive Practice

Making Your Study Simpler