Multiple Choice
Kantorovich Company normally takes 30 days to pay for its average daily credit purchases of $2,000. It has average daily sales of $3,000, and collects accounts in 25 days. What is its net credit position?
A) $15,000
B) $1,000
C) ($1,000)
D) ($15,000)
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q12: Even during slack loan periods, banks will
Q13: General Rent-All's officers arrange a $50,000 loan
Q14: The London Interbank Offered Rate (LIBOR) is
Q15: Companies can use hedging to eliminate all
Q16: The higher the cost of bank financing,
Q18: The commercial paper market is available to
Q19: The extent to which inventory financing may
Q20: Large firms tend to be<br>A) net users
Q21: Which of the following best describes the
Q22: The annual percentage rate requires the use