1. If the organization buys $700 of supplies on account, with terms of 2/15, n50:
a. $650 should be paid within 15 days of invoice date
b. $698 should be paid within 50 days of invoice date
c. $686 can be paid within 15 days of invoice date, or $700 should be paid within 50 days of invoice date
d. $686 can be paid within 15 days of invoice date, or $714 should be paid within 50 days of invoice date
2. ABC Company just proclaimed a 4 for 1 stock split. What effect will this have on:
a. Market value
b. Number of total share
c. Total value of common stock on ABC Company's books
Label each answer clearly.