Question

An invoice dated February 22 with terms 1/10, EOM results in the discount period ending on

A. March 30.
B. April 10.
C. March 10.
D. February 28.

Answer 1

the correct answer is February 28 (option D).

Step-by-step explanation:

The subject of this question is Business and the grade level is High School. The question is about understanding the terms of an invoice and determining the discount period.

In this case, the terms of the invoice are 1/10, EOM, which means that there is a 1% discount available if the invoice is paid within 10 days, and the end of the discount period is the end of the month. The question asks when the discount period ends.

To determine the end of the discount period, we need to count 10 days from the invoice date of February 22. Since February has 28 days, we add 10 days to get March 4. However, since the terms are EOM (End of Month), we need to determine the last day of the month, which is February 28.