Multiple Choice
Tangshan Mining was extended credit terms of 4/10 net 30. The cost of giving up the cash discount, assuming payment would be made on the last day of the credit period, is closest to
A) 76%
B) 50.7%
C) 75%
D) 73%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q137: When accounts receivable are factored: money is
Q138: Commercial banks lend unsecured short-term funds in
Q139: Eriez Magnetics purchased goods with a purchase
Q140: The effective annual interest rate on a
Q141: A line of credit is a legal
Q143: In order to borrow $100,000 for a
Q144: An acceptance is a receivable from the
Q145: In general,<br>A) a revolving credit agreement is
Q146: A discounted loan is one in which
Q147: In general, short-term self-liquidating bank loans are