Rogue Spices Inc. has a Canadian receivables contract for $200,000 due in 270 days
The firm has been approached by a factoring firm that offers to purchase the receivables at a 12% per annum discount plus a 1% charge for a nonrecourse clause. What is the annualized percentage all-in-cost of this factoring alternative?
A) 14.82%
B) 13.00%
C) 12.00%
D) 9.09%
Answer: A
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You can never correct information on a saved Purchase Order, even if items on the order have not been received
Indicate whether the statement is true or false.