Special journals make record keeping more efficient

Flashbinder Guitars, Inc is considering a lockbox system that will increase its check processing cost

by $.15 per check. The company estimates an average check size of $1,700 and expects the lockbox to reduce check collection time by 3 days. What annual before-tax yield must Flashbinder Guitars, Inc earn on its marketable securities for the lockbox system to be beneficial? A) 0.735% B) 1.118% C) 1.825% D) 1.074%

The ________ reflects the rate or amount of U.S. dollars required to purchase one unit of a foreign currency

A) direct rate B) European rate C) indirect rate D) equivalent rate