Concord Corporation purchased merchandise inventory with an invoice price of $14000 and credit terms of 2/13, n/30. What is the net cost of the goods if Concord Corporation pays within the discount period

Thus, the net cost of goods will be $13720

Explanation:

The terms of the purchase state that Concord Corp can avail a s% discount f the payment is made within 13 days of the purchase and the credit period for the purchase is 30 days. If the payment is made within the discount period and discount is availed, the net payment that Concord will pay is,

Payment net of discount = 14000 * 0.98 = 13720

Thus, the net cost of goods will be $13720

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answercombination of ability and experience of the partners;