Which of the following statements is FALSE?

Select one:

a. The lower the discount percentage offered, the greater the cost of forgoing the discount and using trade credit.

b. A firm should choose to borrow using accounts payable only if trade credit is the cheapest source of funding.

c. A firm should always pay on the latest day allowed.

d. A firm should strive to keep its money working for it as long as possible without developing a bad relationship with its suppliers or engaging in unethical practices.