FIN420 CHAPTER 4
Quiz
•
Business
•
University
•
Medium
WAN IBRAHIM
Used 18+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The "month following" means the month after a transaction has occurred
True
False
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business has estimated credit sales of $100,000 for April. What is the estimated cash they would receive in June if the expected collection rate is:
70% in the month following
30% in the second month
$70,000
$30,000
$100,000
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The "month following" means the month after a transaction has occurred
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business has estimated credit sales of $100,000 for April. What is the estimated cash they would receive in June if the expected collection rate is:
70% in the month following
30% in the second month
$70,000
$30,000
$100,000
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business has estimated credit sales of $200,000 for January. What is the estimated cash they would receive in February if the expected collection rate is:
70% in the month following
20% in the second month
10% in the third month
$40,000
$70,000
$140,000
$20,000
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business has estimated credit sales of $200,000 for January. What is the estimated cash they would receive in May if the expected collection rate is:
70% in the month following
20% in the second month
10% in the third month
$40,000
$70,000
$140,000
$0
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the purpose of a cash budget?
To get people into trouble if they overspend
To make people use spreadsheets
To see what happened to cash last year
To plan for the future
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