Which one of the following defines the terms of sale?
A)legal documents related to the credit sale of either goods or services
B)period of time during which a discount can be taken on an invoice
C)period of time granted to a customer to pay for the goods or services received
D)conditions under which a firm sells its goods or services for either cash or credit
E)process used to determine which customers shall be granted credit and which shall not

Question

Quizplus · Accepted Answer

Terms of sale refer to the conditions under which a firm sells its goods or services for cash or credit, including the payment method, due date, and any discounts or penalties. It outlines the agreement between the seller and the buyer regarding the purchase and payment of goods or services.

Which One of the Following Defines the Terms of Sale