A vendor offers terms of 1/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer ...

A vendor offers terms of 1/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer who does not pay within 10 days? (Assume there are 360 days in the year.

A) 1
B) 36
C) 18
D) 54

(Q. 2) Automated business process controls contained within IT systems are called:
a. preventive controls
b. pervasive controls
c. application controls
d. management controls

(Q. 3) The Retained earnings balance (c.) in Lox Stock & Bagel Company's is ________.

A) the same as the Cash balance
B) 21,910
C) 10,910
D) 11,910

(Q. 4) ____________________ use computers rather than paper checks to complete transactions with the bank.
Fill in the blank(s) with correct word

(Q. 5) A purchase order establishes an initial record of the receipt of the inventory.
a. True
b. False

Indicate whether the statement is true or false

(Q. 6) Which of these is a cash equivalent?

A) U.S. treasury bills that mature in three months or less
B) a note receivable that matures in six months
C) a note payable due in three months or less
D) accounts receivable due in three months or less

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A vendor offers terms of 1/10, n/30. What is the ANNUAL interest rate the vendor is charging a buyer ...

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