In determining interest revenue, some financial institutions use 365 days per year whereas others use 360 days.

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In determining interest revenue, some financial institutions use 365 days per year whereas others use 360 days. Why might a financial institution use 360 days?

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 13, 2024 02:09 AM

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In determining interest revenue, some financial institutions use 365 days per year and others use 360 days. Why might a financial institution use 360 days?
(Appendix) In determining interest revenue, some financial institutions use 365 days per year and others use 360 days. Why might a financial institution use 360 days?
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In determining interest revenue, some financial institutions use 365 days per year whereas others use 360 days.

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Financial Accounting

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