CFPS-KR Practice Questions

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NEW QUESTION: 1
Quantree Company is quoted credit terms of 3/15, net 60 (using a 360-day year). The effective cost of not
taking this discount and paying on day 60 is (rounded to nearest hundredth):
A. 18.56 percent.
B. 18.00 percent.
C. 24.00 percent.
D. 24.74 percent.
Answer: D
Explanation:
Choice "a" is correct. The formula for computing the cost of credit discounts is: Choices "b", "c", and "d"
are incorrect, per the above calculation.

NEW QUESTION: 2
What is the recommended field status setting for fields in the customer-vendor account groups in the Financial Accounting customizing?
Response:
A. Optional
B. Required
C. Display
D. Hide
Answer: A

NEW QUESTION: 3
Payment cards has typically 2 tracks, track 1 and track 2 that has respectively how many characters in length?
A. 40 and 16
B. 79 and 40
C. 16 and 40
D. 40 and 79
Answer: B