Which of the following situations explains 'payment terms'?
A) Payment terms relate to what, how and when the buyer will pay for the products and services delivered by the supplier.
B) Payment terms relate to a 12 week period allowed before payment is due for the products and services delivered by the supplier.
C) Payment terms relate to when the buyer will pay for the products and services delivered by the supplier.
D) Payment terms relate to what and how the buyer will pay for the products and services delivered by the supplier.

Question

Which of the following situations explains 'payment terms'? 
A) Payment terms relate to what, how and when the buyer will pay for the products and services delivered by the supplier. 
B) Payment terms relate to a 12 week period allowed before payment is due for the products and services delivered by the supplier. 
C) Payment terms relate to when the buyer will pay for the products and services delivered by the supplier. 
D) Payment terms relate to what and how the buyer will pay for the products and services delivered by the supplier.

Quizplus · Accepted Answer

Payment terms refer to the agreed-upon conditions surrounding the payment for products and services provided by a supplier. This can include details around what will be paid, how it will be paid, and when it will be paid. Option A is the most comprehensive answer as it covers all aspects of payment terms.

Which of the Following Situations Explains 'Payment Terms