Your Firm Purchases Goods from Its Supplier with a Discount

question 69

Multiple Choice

Your firm purchases goods from its supplier with a discount of 1%,and a credit period of 20 days.If the effective annual cost of forgoing the discount is 27.71%,what is the length of the discount period?

• A)25 days
• B)20 days
• C)15 days
• D)10 days
• E)5 days

---

Definitions:

Positive Self-presentation

The practice of intentionally displaying oneself in a favorable manner to make a good impression on others.

Leadership Style

A leader's method of providing direction, implementing plans, and motivating people. Different styles include autocratic, democratic, and laissez-faire.

Reduced Hours

Refers to a work arrangement where employees work fewer hours than the standard full-time schedule, often to balance personal life and work commitments.

High Openness

A personality trait featuring a strong appreciation for art, emotion, adventure, unusual ideas, imagination, curiosity, and a variety of experiences.