公司理财精要版原书第12版习题库答案Ross12e_Chapter18_TB

Fundamentals of Corporate Finance, 12e (Ross)

Chapter 18 Short-Term Finance and Planning

1) Which one of the following actions represents a source of cash?

A) Granting credit to a customer

B) Purchasing new machinery

C) Making a payment on a bank loan

D) Purchasing inventory

E) Accepting credit from a supplier

2) Which one of these actions represents a use of cash?

A) Collecting a receivable

B) Paying employee wages

C) Selling inventory for cash

D) Obtaining a bank loan

E) Purchasing inventory on credit

3) Which one of these activities represents a source of cash?

A) Increasing accounts receivable

B) Decreasing inventory

C) Increasing fixed assets

D) Decreasing accounts payable

E) Decreasing common stock

4) Which one of the following actions will increase net working capital? Assume the current ratio is greater than 1.0.

A) Paying a supplier for a previous purchase

B) Paying off a long-term debt

C) Selling inventory at cost for cash

D) Purchasing inventory on credit

E) Selling inventory at a profit on credit

5) Which one of the following will decrease net working capital? Assume the current ratio is greater than 1.0.

A) Selling inventory at cost

B) Collecting payment from a customer

C) Paying a dividend to shareholders

D) Selling a fixed asset for less than book value

E) Paying a supplier for prior purchases

6) Which one of these actions will increase the operating cycle? Assume all else held constant.

A) Decreasing the payables period

B) Decreasing the receivables turnover rate

C) Increasing the payables period

D) Decreasing the average inventory level

E) Increasing the inventory turnover rate

7) The operating cycle is equal to the:

A) cash cycle plus the accounts receivable period.

B) inventory period plus the accounts receivable period.

C) inventory period plus the accounts payable period.

D) accounts payable period minus the cash cycle.

E) accounts payable period plus the accounts receivable period.

8) Which one of the following will decrease the operating cycle?

A) Decreasing the inventory turnover rate

B) Decreasing the accounts payable period

C) Increasing the accounts receivable turnover rate

D) Increasing the accounts payable period

E) Increasing the accounts receivable period

9) The operating cycle describes how a product:

A) is priced.

B) is sold.

C) moves through the current asset accounts.

D) moves through the production process.

E) generates a profit.

10) Which one of these affects the length of the cash cycle but not the operating cycle?

A) Inventory period

B) Accounts payable period

C) Both the accounts receivable and inventory periods

D) Accounts receivable period

E) Both the accounts receivable and the accounts payable periods

11) Which one of these will decrease the cash cycle, all else held constant?

A) Increasing the accounts receivable turnover rate

B) Decreasing the accounts payable period

C) Increasing the inventory period

D) Decreasing the inventory turnover rate

E) Increasing the accounts receivable period

12) A decrease in which one of the following will increase the cash cycle, all else held constant?

A) Payables turnover

B) Days sales in inventory

C) Operating cycle

D) Inventory turnover rate

E) Accounts receivable period