Lender controls used in inventory financing

Reference no: EM1362551

33. Firms aim to hold ______ cash balances since cash is a non-interest earning asset.
A. High
B. Medium
C. Low
D. Average

34. Which of the following is not part of the lender controls used in inventory financing?
A. Blanket inventory
B. Trust receipt
C. Warehousing
D. Blanket liabilities

35. What is the cost of not taking the following cash discounts?
2/15, net 30
A. 48.96%
B. 24.48%
C. 20.99%
D. 13.91%

36. Your bank will lend you $3,000 for 50 days at a cost of $45 interest. What is your effective rate of interest?
A. 10.20%
B. 12.00%
C. 10.80%
D. 11.50%

Reference no: EM1362551

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