16. _______________ refers to a firm holding some cash to meet its routine expenses that are incurred in the ordinary course of business. a) Speculative motive b) Transaction motive c) Precautionary motive d) Compensating motive 17. _______________ refers to the length of time allowed by a firm for its customers to make payment for their purchases. a) Holding period b) Pay-back period c) Average collection period d) Credit period

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18. Amounts due from customers when goods are sold on credit are called _____________. a) Trade balance b) Trade debits c) Trade discount d) Trade off