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Exam 17: Financial Management

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Question 91

Multiple Choice

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Carlos wants to know the income potential of several different strategic plans for his computer consulting business.Which of the following would be most helpful?

A) Cash flow forecast
B) Long-term forecast
C) Short-term forecast
D) Capital budget forecast

E) C) and D)
F) A) and B)

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Question 92

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)A comptroller is responsible for the acquiring and managing of funds for an organization.

A) True
B) False

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Question 93

Multiple Choice

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____________ are assets that are often pledged by businesses as collateral for a loan.

Working in the finance department of a firm that operates a chain of dry cleaning and tailoring shops,Demonte discovered that tax management is:

Inability to attract and retain qualified employees is one of the most common ways for a firm to fail financially.

Long-term financing would normally be used to purchase:

When using equity financing,firms incur a legal obligation to repay the amount of money invested.

Sue is starting a personal wellness business.She is uncomfortable with making a loan application to a bank and decides to use her existing credit card for any short-term financial needs.Her dad suggests this is a bad idea because

Suppliers prefer to offer trade credit to customers with poor credit ratings or no credit history.

Many small businesses rely on factoring as a source of short-term financing because:

Financial control is a process where firms compare actual revenues and costs with budgeted revenues and costs.

Which of the following represents a source of short-term funding?

What is equity capital? Identify and describe the major sources of this type of financing.

While firms finance their long-term needs with debt financing,their short-term needs are provided by equity financing.

When using ________ financing,the company incurs a legal obligation to repay the amount borrowed.

Karen,a financial manager with Bigbux Incorporated,regularly compares actual revenues and expenses against their projected values.After identifying areas with significant deviations from planned values,she investigates to find the cause of these variances.Karen's activities represent the steps involved in the preparation of Bigbux's capital budget.

A firm's most recent financial statements often serve as the basis for predicting future sales,costs and expenses.

An unsecured corporate bond is known as a debenture bond.

.Firms that fail to take advantage of this early payment discount are losing approximately 36%.

)Creating a budget is the first step in a firm's financial planning and forecasting.