_________ 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.

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