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Which statement is incorrect?
Group of answer choices
When interest is compounded more frequently than annually, the EAR will be greater than the NIR.
Discount rate is the interest rate that reduces a given future value to an equivalent present value.
The cost of borrowings has an impact on the profit and cash flows of an organisation.
The Factoring is the sale of a firms accounts payable or trade bills to another party for cash today.
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