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2. Which of the following statements is CORRECT?
a. A firm that makes 90% of its sales on credit and 10% for cash is growing at a constant rate of 10% annually. Such a firm will be able to keep its accounts receivable at the current level, since the 10% cash sales can be used to finance the 10% growth rate.
b. In managing a firm's accounts receivable, it is possible to increase credit sales per day yet still keep accounts receivable fairly steady, provided the firm can shorten the length of its collection period (its DSO) sufficiently.
c. Because of the costs of granting credit, it is not possible for credit sales to be more profitable than cash sales.
d. Since receivables and payables both result from sales transactions, a firm with a high receivables-to-sales ratio must also have a high payables-to-sales ratio.
e. Other things held constant, if a firm can shorten its DSO, this will lead to a higher current ratio.
1. Swim Suits Unlimited is in a highly seasonal business, and the following summary balance sheet data show its assets and liabilities at peak and off-peak seasons (in thousands of dollars):
Cash $ 50 $ 30
Marketable securities 0 20
Accounts receivable 40 20
Inventories 100 50
Net fixed assets 500 500
Total assets $690 $620
Payables and accruals $ 30 $ 10
Short-term bank debt 50 0
Long-term debt 300 300
Common equity 310 310
Total claims $690 $620
From this data we may conclude that
a. Swim Suits' current asset financing policy calls for exactly matching asset and liability maturities.
b. Swim Suits' current asset financing policy is relatively aggressive; that is, the company finances some of its permanent assets with short-term discretionary debt.
c. Swim Suits follows a relatively conservative approach to current asset financing; that is, some of its short-term needs are met by permanent capital.
d. Without income statement data, we cannot determine the aggressiveness or conservatism of the c
what gives a person acomparative advantage
This is I.T Business Homework.
What 3 main areas does the Operations Department deal with?
Name and describe the 3 quality standards of a product.
Why do firms use quality standards?
I would be very greatful if these questions could be answered by tomorrow. Thank you x
qualitative characteristics of accounting information of a listed company’s financial statements between year 2009 and 2010.
PURPOSE The purpose of this assignment is to provide learners the opportunity to assess the primary qualitative characteristics of accounting information. REQUIREMENT Compare and assess the primary qualitative characteristics of accounting information of a listed company’s financial statements between year 2009 and 2010. can you reference the annual report WCT construction
Elasticity Worksheet: The Case of the Missing Money
Mickey operates a small business that produces 3 products. We will call these products A, B, and C. Mickey's costs of production have recently increased by approximately $5,000. Since his total revenue (his sales) was just a little over $100,000, Mickey figured he would pass on the increased costs of production to his customers by raising his prices 5%. But, after raising the price of all three products by 5%, Mickey found himself with LESS money than he had before. He has asked you to find out what happened and has supplied the following data. Complete the blank spaces and answer the questions.
Before Mickey Raises Price After Mickey Raises Price % chg using midpoint formula Price Elasticity
Units Price Total Revenue Units Price Total Revenue % chg Q % chg P
Product A 531 $78.00 469 $82.00 12.5% 5.0%
Product B 1,025 $39.00 975 $41.00 5.0% 5.0%
Product C 1,010 $19.50 990 $20.50 2.0% 5.0%
Zervos Inc. had the following data for 2008 (in millions). The new CFO believes (a) that an improved inventory management system could lower the average inventory by $4,000, (b) that improvements in the credit department could reduce receivables by $2,000, and (c) that the purchasing department could negotiate better credit terms and thereby increase accounts payable by $2,000. Furthermore, she thinks that these changes would not affect either sales or the costs of goods sold. If these changes were made, by how many days would the cash conversion cycle be lowered?
Annual sales: unchanged
Cost of goods sold: unchanged
Average inventory: lowered by $4,000
Average receivables: lowered by $2,000
Average payables: increased by $2,000
Days in year $110,000
4. Explain the key accounting standard (AS) norms concerning related party disclosures and leases.
How can revenue expenditure turn into capital expenditure?