1. Which of the following is not a (source of) short-term financing?
A. Accruals
B. Account payable
C. Note payable
D. Sale of bonds
2. Loan amount is $10,000 and annual interest rate is 12 percent. Find the annual effective rate if interest is paid quarterly.
A. 12 percent
B. 12.55 percent
C. 13.74 percent
D. 13.99 percent