Musculoskeletal disorders (MSD) occur:
A. only in hazardous work environments
B. only in manufacturing environments
C. only in ship yards
D. in many different work environments.
E. None of the above
D. in many different work environments.
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Those obligations that are due within one year or the normal operating cycle of the business and will be paid with money provided by the current assets are called
a. investments. b. marketable securities. c. current liabilities. d. long-term liabilities.
Precise Speed Inc., a laser printer manufacturer, has the following forecasted sales for 2018:
1. Actual sales in November and December 2017 were $375,000 and 266,667, respectively. Sixty percent of sales are on credit. The firm collects 60% of these credit sales during the first after the sale and the remainder during the following second month. Purchases constitute 60% of the next month’s sales. The company pays 50% during the first month after the purchase was made and the remainder in the next month. Wages, taxes and other expenses are expected to be 30% of forecasted sales. A major capital expenditure of $70,000 is expected in March. Interest payments are expected to be $30,000 every month and the company needs a minimum cash balance of $25,000. The beginning cash balance is $30,000.
a) Using the Bithlo Barbecues’ simple cash budget example from Chapter 4, help the financial staff of Precise Speed Inc., to prepare their cash budget for January to June 2018.
b) Assume that Precise Speed Inc. has some flexibility in scheduling the major capital expenditure expected in March. Use the Scenario Manager to see in what month Precise Speed should make this expenditure in order to minimize the maximum borrowing. Create a scenario summary to show the result.
c) If the firm will invest any cash in excess of $40,000 at a rate of 3% and will pay interest on its short-term borrowings of 7%, help the financial staff at Precise Speed Inc., prepare a cash budget using the Bithlo Barbecues’ complex cash budget example from Chapter 4. The cash budget should include interest payments on borrowed funds and the investment of excess cash.
The Golden Rule test asks the question, "Would I like to be on the receiving end of this action and all its potential consequences?"
Answer the following statement true (T) or false (F)
The basic difference between Older Home Form HO-8 and other homeowners' policies is that
A) the home is insured at actual cash value instead of replacement cost. B) the home is insured at replacement cost instead of market value. C) the contents of the home are insured at market value instead of replacement cost. D) the contents of the home are insured at replacement cost instead of at market value.