QUESTION 18 The effective cost of credit depends upon 1. the amount of time the borrower has the use of the funds 2. the stated rate of interest 3. the proceeds the borrower may use a. 1 and 2 b.1 and 3 O c. 2 and 3 d. 1, 2, and 3 QUESTION 19 Which of the following money market securities are sold at a discount? 1.commercial paper 2. corporate stock 3. certificates of deposit 4. Treasury bills a, 2 and 3 b, 3 and 4 O C. 1 and 2 o d. land 4 QUESTION 20 More lenient tems of credit will probably decrease a. inventory turnover b.receivables turnover C. risk d, sales