Examlex
Which of the following statements is true?
Compensating Balance
A minimum account balance that a company agrees to maintain in a bank account, often to qualify for favorable terms on a loan from the bank.
Effective Rate
The interest rate on a loan or investment, adjusted for the compounding period, providing a true reflection of financial costs or returns.
Terms of Sale
The conditions under which a seller is willing to sell a product or service, including price, payment method, and delivery time.
Prompt Payment Discount
A reduction in the amount due on a bill offered by a seller to encourage early payment by the buyer.
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