What is meant by the following trade credit terms: 2/ 10, net 30? 4/ 20, net 60? 3/ 15, net 45?
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- What is the difference between free trade credit and costly trade credit? What is theformula for finding the nominal annual cost of trade credit? Does the nominal costof trade credit understate the effective cost? Explain.Briefly discuss the following: 1. When does commercial credit occurs? 2. What attributes does commercial credit have? 3. What are the elements that influence the credit period? 4. What are the advantages of trade discounts? 5. When can we use anticipation rates?Define each of the following terms:k. Accruals; trade credit
