公司理财 习题库 Chap020.docVIP

CHAPTER 20 Cash and Liquidity Management I. DEFINITIONS SPECULATIVE MOTIVE a 1. The need to hold cash to take advantage of additional investment opportunities is called the _____ motive. a. speculative b. precautionary c. transaction d. float e. compensating balances PRECAUTIONARY MOTIVE b 2. The need to hold cash as a safety margin to act as a financial reserve is called the _____ motive. a. speculative b. precautionary c. transaction d. float e. compensating balances TRANSACTION MOTIVE c 3. The need to hold cash to satisfy the ongoing disbursement and collection activities of a firm as part of its daily operations is called the _____ motive. a. speculative b. precautionary c. transaction d. float e. compensating balances LEDGER BALANCE d 4. The balance of cash shown by a firm on its books at any one time is the firm’s: a. tax balance. b. ready balance. c. speculative cash. d. ledger balance. e. available balance. AVAILABLE BALANCE e 5. The balance of cash in a firm’s bank account that can be spent is the firm’s: a. tax balance. b. book value. c. float. d. ledger balance. e. available balance. FLOAT c 6. The difference between a firm’s ledger balance and its available balance is called the firm’s: a. tax balance. b. market value of cash. c. float. d. book balance. e. collected balance. LOCKBOXES b 7. _____ are special post office boxes often set up by a firm to expedite the receipt and processing of its accounts receivables payments. a. Float managers b. Lockboxes c. Open accounts d. Open boxes e. List-on-demand boxes CASH CONCENTRATION a 8. The practice of and procedures for moving cash from multiple banks into a firm’s centralized bank account is known as: a. cash concentration. b. strategic cash disbursement. c. transfer flotation. d. payables management. e. float management. ZERO-BALANCE ACCOUNT d 9. A disbursement account for which the firm maintains no balance, transferring in funds from a master account only when need