1. Arson Incorporated's balance sheet lists assets at historical cost less accumulated depreciation. This GAAP is known as

A. Monetary concept

B. Economic entity

C. Going concern

D. Conservatism

E. None of the above

2. Some of the items below involve a cash discount. For each of these. Calculate the rate of interest paid by customers who pay on the due date instead of taking the cash discount.

A. a. 2/30 , net 60 :

B. 2/5 EOM,net 30 :

C. COD