A Firm Buys on Terms of 3/15,net 45 Days

question 38

Multiple Choice

A firm buys on terms of 3/15,net 45 days.It does not take the discount,and it generally pays after 65 days.What is the nominal annual cost of its non-free trade credit,based on a 365-day year?

• A)22.58%
• B)23.71%
• C)24.89%
• D)26.14%

Recognize and implement effective reading and note-taking strategies to increase material retention.

Identify and use strategies suited to one’s learning style to improve comprehension and interpretation of complex texts.

Enhance reading comprehension skills through various strategies, including focus on paragraph understanding, genre variation, and visualization techniques.

Understand and apply the SQ3R reading system for improved comprehension and retention.

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Definitions:

Elections

A formal group decision-making process by which a population chooses an individual or multiple individuals to hold public office.

Unemployed

The state of being without a paid job but available to work.

Works Progress Administration

A key New Deal agency established in 1935 to address unemployment during the Great Depression by creating jobs in public works projects.

Employment

The condition of having paid work or the relationship between an employer and an employee where duties are performed for payment.