Multiple Choice
A firm is offered trade credit terms of 2/8,net 45.The firm does not take the discount,and it pays after 58 days.What is the effective annual cost of not taking this discount? (Note: Do not use the approximate cost. )
A) 21.63%
B) 13.35%
C) 22.95%
D) 15.65%
E) 18.70%
Correct Answer:
Verified
Correct Answer:
Verified
Q39: The threat of expropriation creates an incentive
Q55: The accounts of Weston Inc.indicate the following
Q57: A promissory note is the document signed
Q58: Inventory financing can take the form of
Q59: You have recently been hired to improve
Q61: An unusually high turnover of accounts receivable,which
Q62: Cross Collectibles currently fills mail orders from
Q63: A just-in-time system of inventory control requires
Q64: Which of the following is not commonly
Q65: Which of the following statements is correct?<br>A)