All of the following are true except: a. Trade credit represents inventories sol

Question

All of the following are true except:
a. Trade credit represents inventories sold tocustomers. b. Temporary investments are current assets that will beliquidated and not replaced within the current year. c. Permanent investments are assets a firm expects to hold forlonger than one year. d. All of the above are true. All of the following are true except:
a. Trade credit represents inventories sold tocustomers. b. Temporary investments are current assets that will beliquidated and not replaced within the current year. c. Permanent investments are assets a firm expects to hold forlonger than one year. d. All of the above are true.

Explanation / Answer

Trade credit is the credit extended to you by suppliers who letyou buy now and pay later. Any time you take delivery of materials,equipment or other valuables without paying cash on the spot,you're using trade credit.
http://www.entrepreneur.com/encyclopedia/term/82538.html

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