Controlled disbursing ________
A) reduces a firm's average collection period
B) is a popular technique for effectively managing inventory to keep its level low
C) is a popular technique for increasing payment float
D) reduces a firm's average payment period
C
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Business process modeling tools differ from business process management systems (BPMS) in that business process modeling tools are aimed at business process analysis and design and BPMS are used only to manage processes
Indicate whether the statement is true or false.
All of the following are taken into account in a cost of living index EXCEPT:
A. income B. housing C. food and groceries D. health care E. entertainment
In a job interview, Lillian is asked to be part of a three-member group and design a mock business process based on the strengths and skills of the group's members. In this case, which of the following skills is the interviewer trying to test?
A) collaboration B) cognitive acceleration C) systems thinking D) facilitation
Widmer Corp. requires a minimum $10,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). If the ending cash balance exceeds the minimum, the excess will be applied to repaying any outstanding loan balance. The cash balance on July 1 is $10,400. Cash receipts other than for loans received for July, August, and September are forecasted as $24,000, $32,000, and $40,000, respectively. Payments other than for loan or interest payments for the same period are planned at $28,000, $30,000, and $32,000, respectively at July 1, there are no outstanding loans.
Required: Prepare a cash budget for July, August, and September.