Wislon, Inc. has an inventory turnover rate of 15, an accounts payable period of 54 days and an accounts receivable period of 37 days. What is the length of the cash cycle?
A) -7.33 days B) -2.00 days C) 2.00 days D) 6.50 days E) 7.33 days
Statement I: The number of people receiving public assistance remained very steady from 1975 to 1992. Statement II: Public assistance payments are virtually the same in all states.
A) Statement I is true and statement II is false. B) Statement II is true and statement I is false. C) Both statements are true. D) Both statements are false.
A holder may take an instrument for value if the holder: (1) Performs the promise for which the instrument was issued; (2) Acquires a security interest or other lien in the instrument; (3) Takes the instrument for payment of a preceding claim; (4) Exchanges the instrument for another negotiable instrument; or (5) Exchanges the instrument for an irrevocable obligation to a third party.