What is the purpose of the credit memo?
This document is the authorization for the customer to receive credit for the merchandise returned. A credit memo may be similar in appearance to a sales order. Some systems may actually use a copy of the sales order marked credit memo.
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An individual spends $5 daily and also spends an additional $1.50 each time he goes to an ATM. There is also a 12 percent risk of having his cash lost or stolen. If his total cost of holding cash is (547.50/T) + (0.375 ×T), then what is the ongoing nominal interest rate in the economy? Assume that the individual visits the ATM once in every T days.
A. 1 percent. B. 2 percent. C. 3 percent. D. 4 percent.
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Indicate whether the statement is true or false
In terms of solvency, the larger the number of times interest is earned, the better.
Answer the following statement true (T) or false (F)
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What will be an ideal response?