Erick's Transition ? Erick is currently a manager of a small financial planning firm. He is seeking a new career with a large corporation in the banking industry. He recently applied for the financial manager opening at G & T Bank. He is concerned that the transition from his small firm to a large corporation will be difficult. To better prepare himself for this change, he has decided to enroll in a few business classes to strengthen his understanding of corporate finance. The business classes have proven to be a valuable tool for learning the critical skills needed to fully understand a financial plan, equity financing, and debt financing. Erick now believes he has strengthened his competitive advantage in his quest for the job. Refer to Erick's Transition. When Erick has to counsel
clients on short-term versus long-term financing needs, which of the following should he identify as a short-term financing need?
A. Speculative production
B. Business start-up costs
C. Acquisitions and mergers
D. Replacement of equipment
E. Expansion of facilities
Answer: A
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Bright Minds Toy Company prepared the following sales budget for the second quarter. Projected sales for each of the first three months of operations are as follows:Sales BudgetApril May June Cash sales30,000 43,000 55,000 Sales of account370,000 432,000 405,000 400,000 475,000 460,000 Bright Minds expects to collect 70% of the sales on account in the month of sale, and 20% in the month following the sale, and the remainder in the second month following the sale.What is the ending accounts receivable balance that would be reported on the pro forma balance sheet prepared as of June 30?
A. $86,400 B. $283,500 C. $121,500 D. $164,700
Arbitration of disputes under the purview of "lemon laws" under state statute is:
A. usually binding on the manufacturer, not the consumer. B. not required by most statutes. C. usually binding on the consumer, not the manufacturer. D. not binding on either the manufacturer or the consumer.
When writing a report, information that is known to most people is considered to be _____
A) paraphrasing B) opinion C) common knowledge D) speculation E) statistics
The medium with the longest lead time is _____
a. radio b. direct mail c. telephone directories d. magazines