Which of the following streams of income is not affected by how a firm is financed (whether with debt or equity)?

Net profit after tax but before dividends

Net working capital

Operating income

Income before tax

None of the above

Stretching the time taken to pay off accounts payable may

lower the buyer's credit rating

damage relationships with suppliers

lead to refusal of credit by suppliers

lower the number of discounts foregone

All of the above.

Which of the following provides the greatest annual interest?

10% compounded annually

9.5% compounded monthly

9% compounded quarterly

8.5% compounded daily

8.6% compounded continuously