BU 440 BU440 EXAM 4 ANSWERS - ASHWORTH

BU 440 BU440 EXAM 4 ANSWERS - ASHWORTH

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BU440 Managerial Finance II Exam 4 Answers
Question 1

2.5 / 2.5 points
The goal of the daily management of cash is to have sufficient cash on hand to pay the bills without carrying excess:
Question options:
a) 
debt.

b) 
sunk costs.

c) 
depreciation.

d) 
cash.

Question 2

2.5 / 2.5 points
A company estimates the following expenditures: interest paid of $17,500; wages paid to workers of $74,600; overhead costs of $12,300; raw materials of $55,000; shipping costs of $7,100, and dividends paid to common stock holders of $15,000. What are the total production costs?
Question options:
a) 
$141,900

b) 
$149,000

c) 
$166,500

d) 
$181,500

Question 3

2.5 / 2.5 points
In the daily planning for cash or the cash forecast, we want to hone in on the management of cash as it applies to the __________ investing of the company.
Question options:
a) 
short-term borrowing and long-term

b) 
long-term borrowing and short-term

c) 
short-term borrowing and short-term

d) 
long-term borrowing and long-term  

Question 4

2.5 / 2.5 points
__________ consists of items such as number of sales personnel in the field and average sales per representative, competitors and alternative products, and production capabilities and schedules, as well as other factors known mainly to the company.
Question options:
a) 
External data

b) 
Product data

c) 
Employee data

d) 
Internal data

Question 5

2.5 / 2.5 points
The amount of sales a company predicts is a function of two types of data. Which of the types below is one of these?
Question options:
a) 
Accounting

b) 
Internal

c) 
Rationing

d) 
Legal                                 

Question 6

2.5 / 2.5 points
There are a variety of ways to produce pro formas, but they usually rely on two primary inputs. One of these primary inputs is the:
Question options:
a) 
projected sales for the coming year.

b) 
projected sales for the past year.

c) 
next year's financial statements.

d) 
current year's financial statements.

Question 7

2.5 / 2.5 points
Financial forecasts are seldom right on the money, so to speak, but they do provide a yardstick by which a company can measure its ____________ plan.
Question options:
a) 
past adherence to its long-term

b) 
past deviation from its long-term

c) 
adherence to or deviation from its short-term

d) 
current deviation from a future

Question 8

2.5 / 2.5 points
As with a lot of planning, the financial forecast begins with __________ estimates and __________ schedules.
Question options:
a) 
sales; production

b) 
sales; profit

c) 
dividends; production

d) 
profits; dividend

Question 9

2.5 / 2.5 points
There are a variety of ways to produce pro formas, but they usually rely on two primary inputs. One of these primary inputs is the:
Question options:
a) 
projected sales for the current year.

b) 
projected sales for the past year.

c) 
prior year's financial statements.

d) 
current year's financial statements.

Question 10

2.5 / 2.5 points
An aspect of __________ is forecasting operating cash flow and ultimately the profitability of the company in the coming period.
Question options:
a) 
short-term financial planning

b) 
medium-term financial investing

c) 
long-term financial planning

d) 
short-term financial investing

Question 11

2.5 / 2.5 points
Managers know that all cash and credit sales completed in one month will be recorded as sales revenue in that month, but the actual cash flow will take place over a longer period of time because of:
Question options:
a) 
credit sales.

b) 
erosion.

c) 
foreclosure.

d) 
transit time.

Question 12

2.5 / 2.5 points
In short-term cash management as it pertains to the operations of a firm, which is NOT a general objective? Determining the:
Question options:
a) 
cash surplus.

b) 
level of employees’ job satisfaction.

c) 
money the company can invest.

d) 
cash deficit.

Question 13

2.5 / 2.5 points
Forecasting entails drawing a financial picture of a company for the:
Question options:
a) 
year.

b) 
month.

c) 
quarter.

d) 
All of the above

Question 14

2.5 / 2.5 points
Excess cash is an asset that has a(n) __________ cost due to lost earning power for the company.
Question options:
a) 
opportunity

b) 
cash

c) 
sunk

d) 
erosion 

Question 15

2.5 / 2.5 points
The __________ schedule will usually be based on the __________ forecast.
Question options:
a) 
sales; production

b) 
production; sales

c) 
sales; credit

d) 
production; cash

Question 16

2.5 / 2.5 points
One of the functions of a finance manager is to forecast for the __________ period(s):
Question options:
a) 
coming

b) 
present

c) 
past

d) 
present and future 

Question 17

2.5 / 2.5 points
The timing and amount of sales are usually provided by the __________ department.
Question options:
a) 
advertising or finance

b) 
accounting or sales

c) 
sales or marketing

d) 
marketing or planning

Question 18

2.5 / 2.5 points
We start the process of building a cash forecast by predicting the cash inflow from future sales. This is called a(n) ___________ forecast.
Question options:
a) 
sales

b) 
earnings

c) 
monetary

d) 
revenue  

Question 19

2.5 / 2.5 points
Estimating the timing of the sale and amount of cash inflow from the sale is part of the __________ forecasting process.
Question options:
a) 
income

b) 
revenue

c) 
sales

d) 
cost  

Question 20

2.5 / 2.5 points
Which of these is a source of cash?
Question options:
a) 
Cash sales

b) 
Wages and salaries

c) 
Rent or lease payments

d) 
Dividend payments


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