
MATs - Lessons 9 - Plenary
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Professional Development
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You are calculating receipts from trade receivables for May to October and are given the following information;
Credit sales for May-August are £15,000 and £20,000 for September & October.
Trade receivables are paid half in the month of sales and take 5% discount and half in the month after sale, no discount.
What is the trade receivables for September?
£14,250
£17,500
£17000
£16,625
£20,000
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You are calculating receipts from trade receivables for May to October and are given the following information;
Credit sales for May-August are £15,000 and £20,000 for September & October.
Trade receivables are paid half in the month of sales and take 5% discount and half in the month after sale, no discount.
What is the trade receivables for June?
£14,250
£17,500
£17000
£14,625
£15,000
3.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Which of the following situations could explain why a business is making a profit but is short of cash? Tick all options that apply.
Sales are increasing and most sales are on credit. Some of the biggest credit customers are taking longer than their agreed terms to pay
The business has decided not to pay any suppliers until they chase for payment
The business has taken out a large bank loan repayable over five years
The business has bought several new commercial vehicles recently that will be depreciated over six years
More cash sales are being made online, but margins are lower
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Bogdan runs a gardening business and wants to buy a digger so he can do more landscaping work. The digger will cost £15,000 and Bogdan does not have enough money in his bank account and estimates that it will take him several years to earn enough to pay for the new machine. Which one of the following funding methods would you suggest he considers?
Cash purchase
Purchase on 30 days’ credit terms
Bank overdraft
Loan from a bank or finance company
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Bogdan has found a company that will supply the digger on a hire purchase agreement. Which of the following best describes a hire purchase agreement?
It is exactly the same as taking out a bank loan
Bogdan will own the digger from the start and the finance company will service it every year
The finance company initially owns the machine and Bogdan will make regular payments to cover the cost and interest until the full cost has been paid. At the end of the agreement, he will take ownership
It is a type of bank overdraft
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Using the table work out Inventory holding period (days). Enter your answers to the nearest whole day, using a 365 day year.
39
33
61
55
19
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Using the table work out Trade payables payment period (days). Enter your answers to the nearest whole day, using a 365 day year.
39
16
61
55
33
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