Question: 1. Breakeven point is fixed cost divided by contribution margin. True False 2. 3/10, 1/15, n/30 means that a 3% discount be will given from

1. Breakeven point is fixed cost divided by contribution margin. True

1. Breakeven point is fixed cost divided by contribution margin. True False 2. 3/10, 1/15, n/30 means that a 3% discount be will given from day 11 to day 15 of the billing period. True False 3. Selling price cost markup True False 4. The amount financed equals the cash price plus the down payment. True False 5. The average daily balance is equal to the sum of daily balances divided by the number of days in the billing cycle. True False

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