Credit Terms: Due Date, Invoice Date & EOM Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

An invoice is dated March 12. What is the 2/10 due date for this invoice?

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1. If an invoice is dated 8 October, what is the EOM due date?

2. In reference to a due date, what does 5/10 mean?

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About This Quiz & Worksheet

There are several terms to know when it comes to reading and paying invoices, and this quiz/worksheet will help you test your understanding of them. Some of the credit terms you'll be tested on include EOM, 2/10, and net 30.

Quiz & Worksheet Goals

In these assessments you'll be tested on examples and definitions of:

  • 2/10
  • Net 30
  • EOM

Skills Practiced

This quiz and worksheet allows students to test the following skills:

  • Information recall - use acquired knowledge to recall information about the terms seen on invoices
  • Defining key concepts - ensure that you can accurately define the credit terms EOM and 2/10
  • Distinguishing differences - compare and contrast the timelines of 2/10, EOM and net 30 due dates

Additional Learning

To learn more about credit terms, review the accompanying lesson called Credit Terms: Due Date, Invoice Date & EOM. This lesson covers the following objectives:

  • Define invoice
  • Define due date
  • Understand the meaning of 2/10 on invoices
  • Understand the meaning of EOM on invoices
  • Understand the meaning of net 30 on invoices
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