Which of the following elements of credit terms might encourage purchasers from paying with a discount?
A. A lower discount percentage
B. A longer payment period
C. A shorter discount period
D. A shorter payment period
71. What is the effective annual rate of trade credit if the trade credit terms are 1/10, net 30?
72. Which of the following financial ratios has the highest weight in Altman's Z-score estimation?
A. Working capital/total assets
B. Retained earnings/total assets
C. EBIT/total assets
D. Sales/total assets
73. You are buying goods worth $75,000 from a firm that offers the credit terms of 2/10, net 30. What will be the actual payment if you paid within 10 days?
74. A retailer buys Christmas merchandize from the manufacturer on September 1. The manufacturer postdates the invoice to December 31, and the credit terms of the sale are 2/10, net 30. When is the payment due?
A. January 10
B. January 30
C. February 10
D. September 30
75. Which of the following statements is correct for a firm that currently has total costs of carrying and ordering inventory that are 50% higher than total carrying costs?
A. Current order size is greater than optimal.
B. Current order size is less than optimal.
C. Per unit carrying costs are too high.
D. The optimal order size is currently being used.
76. How can financial ratios be used to predict bankruptcy?
A. As early as 4 years before they went bankrupt, failing firms were earning a much lower return on assets (ROA) than firms that survived.
B. On average, failing firms also had a high ratio of liabilities to assets.
C. EBITDA (earnings before interest, taxes, depreciation, and amortization) was low relative to the firms' total liabilities.
D. All of these. In each case, these indicators of the firms' financial health steadily deteriorated as bankruptcy approached.
77. How many cases of microwave popcorn are sold annually by a firm that has total annual order costs of $32,000, orders in units of 100 cases, and is charged $90 per order in addition to the $72 per case product cost?
A. 20,250 cases
B. 35,556 cases
C. 44,444 cases
D. 49,383 cases
78. ABC Corp. shows a ledger balance of $50,000 prior to writing a check for $5,000 and depositing $1,000 in checks. What is the amount of its net float?
79. A manager estimates that her firm benefits from an average float time of 6 days. Which of the following is true if the firm averages $15,000 per day in payments?
A. The firm is losing interest on $90,000 per year.
B. The firm's ledger balance averages $90,000 more than the bank's ledger balance.
C. The firm has $45,000 in net float.
D. The available balance at the bank is $90,000 greater than shown on the firm's books.
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