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Reporting and Analyzing Receivables
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When the due date of a note is stated in months, what is the time factor in computing interest?
the number of months divided by 30 days
the number of months divided by 360 days
the number of months divided by 12
the number of months divided by 0.12
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (C)
the number of months divided by 12
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