Multiple Choice
Arnold Inc.purchases merchandise on terms of 2/10 net 30, and it always pays on the 30th day.The CFO calculates that the average amount of costly trade credit carried is $375,000.What is the firm's average accounts payable balance? (Assume a 365-day year.)
A) $458,160
B) $482,273
C) $507,656
D) $534,375
E) $562,500
Correct Answer:
Verified
Correct Answer:
Verified
Q120: Other things held constant, if a firm
Q121: The concept of permanent current operating assets
Q122: Monar Inc.'s CFO would like to decrease
Q123: Which of the following is NOT a
Q124: A firm that follows an aggressive current
Q126: Net operating working capital is defined as
Q127: A firm's collection policy, i.e., the procedures
Q128: Which of the following statements is CORRECT?<br>A)
Q129: Which of the following statements is CORRECT?<br>A)
Q130: Although short-term interest rates have historically averaged