TRUE OR FALSE:

Money can be a medium of exchange for barter.

TRUE OR FALSE

A sales budget is a financial plan that outlines an organization's projected sales revenue for a specific period.

TRUE OR FALSE:

Understanding finance requires an understanding of the financial environment.

TRUE OR FALSE:

Financial decisions made by businesses will not impact the stability of the economy.

TRUE OR FALSE

Lending companies provide financial protection to individuals and businesses by covering the costs of unforeseen events and losses.

TRUE OR FALSE:

Riskier assets are always a better choice than less-risky assets because they offer the potential for higher returns.

TRUE OR FALSE

Budgeting is a one-time activity and does not require regular review and adjustment.

TRUE OR FALSE:

Delaying a purchase decision can help you figure out if you really need it or just want it for a short time.

TRUE OR FALSE

The Board of Directors of a non-profit organization typically is not involved in financial management decisions.

TRUE OR FALSE

Financial managers are responsible for overseeing an organization's overall financial strategy and making high-level financial decisions.

TRUE OR FALSE

Controller works to identify cost-saving opportunities.

TRUE OR FALSE

The treasurer is responsible for financial reporting and accounting functions of an organization.

TRUE OR FALSE

Shareholders are responsible for financial management in a partnership or sole proprietorship type of business.

TRUE OR FALSE

A master budget adjusts to changes in actual performance and can be modified during the budget period.

TRUE OR FALSE:

Money market trade long-term debt and equity security.

TRUE OR FALSE:

Peer pressure cannot influence an individual's spending decisions and financial behavior.

TRUE OR FALSE:

When planning for a long-term goal and you have extra money, it's better to prioritize investing it rather than keeping it for emergency use.

TRUE OR FALSE:

Securities generate financial liabilities and assets.

TRUE OR FALSE:

Banks in the Philippines are supervised and regulated by the Banco De Oro.

They oversee the collection of funds, disbursement of payments, and ensures that there is enough liquidity to cover operating expenses and financial obligations.

They ensure that financial transactions are accurately

recorded and that there are checks and balances in place.

They set up and maintain relationships with banks.

They create budgets and provide financial

forecasts to aid in decision-making.

Who is the manager who manages accounting

They prepare tax returns, and manage tax payments to minimize the organization's tax liability.

Who is responsible for managing the organization's cash flow.

Who works to identify cost-saving opportunities?

They make short-term and long-term investment decisions to maximize returns on surplus funds.

They are responsible for producing accurate and

timely financial statements.

Compute for the company’s cash conversion cycle:

• It takes 14 days for a customer receivable to be collected.

• It only takes 3 days to sell the goods.

• The company has 10-day period before it pays its obligations to its suppliers.

Compute for the company’s cash conversion cycle:

• It takes 10 days for a customer receivable to be collected.

• It only takes 7 days to sell the goods.

• The company has 14-day period before it pays its obligations to its suppliers.

Compute for the company’s cash conversion cycle:

• It only takes 2 days to sell the goods.

• It takes 20 days for a customer receivable to be collected.

•The company has 30-day period before it pays its obligations to its suppliers.

Compute for the company’s cash conversion cycle:

• It only takes 7 days to sell the goods.

• It takes 25 days for a customer receivable to be collected.

• The company has 15-day period before it pays its obligations to its suppliers.