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Chapter 16
Short-Term Financial Planning
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Multiple Choice Questions ?
1.?Which one of the following commences on the day inventory is purchased and ends on the day the payment for that inventory is collected? Assume all sales and purchases are on credit.? A.?Inventory period B.?Accounts receivable period C.?Accounts payable period D.?Operating cycle E.?Cash cycle
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2.?The amount of time that a firm holds inventory in stock is referred to as which one of the following?? A.?Inventory period B.?Accounts receivable period C.?Accounts payable period D.?Operating cycle E.?Cash cycle
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3.?The accounts receivable period is the time that elapses between the _____ and the _____.? A.?purchase of inventory; payment to the supplier B.?purchase of inventory; collection of the receivable C.?sale of inventory; payment to supplier D.?sale of inventory; collection of the receivable E.?sale of inventory: billing to customer
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4.?Which one of the following is the length of time that a retailer owes its supplier for an inventory purchase?? A.?Inventory period B.?Accounts receivable period C.?Accounts payable period D.?Operating cycle E.?Cash cycle
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5.?Which one of the following defines the cash cycle?? A.?Inventory period plus the accounts receivable period B.?Inventory period plus the accounts payable period C.?Operating cycle minus the inventory period D.?Operating cycle minus the accounts payable period E.?Operating cycle minus the accounts receivable period
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6.?Which one of the following is a graphical representation of the operating and cash cycles?? A.?Operations line B.?Production period C.?Cash flow time line D.?Inventory flow chart E.?Customer service line
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7.?Which one of the following is directly related to increases in a firms current assets?? A.?Re-order costs B.?Shortage costs C.?Restocking costs D.?Out-of-stock events E.?Carrying costs
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8.?Which of the following are inversely related to increases in a firms current assets? I. re-order costs II. shortage costs III.
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