This document provides a quiz for an economics course on working capital management and international trade finance. It contains multiple choice and true/false questions covering topics like operating cycles, net working capital, cash management strategies for multinational enterprises, and financial instruments used in international trade like letters of credit. The quiz aims to test understanding of concepts related to managing current assets and liabilities in global business contexts.
Fin 419 Effective Communication-snaptutorial.comjhonklinz19
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FIN 419 Week 1 Individual Assignment Limited Liability Corporation and Partnership Paper (2 Papers)
FIN 419 Week 1 DQ 1
FIN 419 Week 1 DQ 2
FIN 419 Week 1 DQ 3
FIN 419 Week 1 DQ 4
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FIN 515 Week 2 Project Financial Statement Analysis (Nike)
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Fin 419 Effective Communication-snaptutorial.comjhonklinz19
For more classes visit
www.snaptutorial.com
FIN 419 Week 1 Individual Assignment Limited Liability Corporation and Partnership Paper (2 Papers)
FIN 419 Week 1 DQ 1
FIN 419 Week 1 DQ 2
FIN 419 Week 1 DQ 3
FIN 419 Week 1 DQ 4
Fin 515 Education Organization / snaptutorial.comBaileya98
For more classes visit
www.snaptutorial.com
FIN 515 Week 2 Project Financial Statement Analysis (Nike)
FIN 515 Week 3 Project Financial Statement Analysis (Nike)
FIN 515 Week 6 Project Calculating the Weighted Average Cost of Capital (Nike)
As originally enacted, the IC-DISC allowed exporters to defer income tax from profits on first $10 million of export sales. Prior to the phase-out of the EIE, which was completed after 2006, the IC-DISC received scant attention in the business world. But now it\'s moving into the spotlight.
As originally enacted, the IC-DISC allowed exporters to defer income tax from profits on first $10 million of export sales. Prior to the phase-out of the EIE, which was completed after 2006, the IC-DISC received scant attention in the business world. But now it\'s moving into the spotlight.
1) Which of the following legal forms of organization is characteriz.docxhirstcruz
1) Which of the following legal forms of organization is characterized by limited
liability?
a. Professional partnership
b. Sole proprietorship
c. Corporation
d. Partnership
2) The fi nancial manager may be responsible for any of the following EXCEPT
a. keeping track of quarterly tax payments.
b. analyzing quarterly budget and performance reports.
c. analyzing the effects of more debt on the fi rm’s capital structure.
d. determining whether to accept or reject a capital asset acquisition.
3) The fi nancial manager’s fi nancing decisions determine
a. both the mix and the type of assets found on the fi rm’s balance sheet.
b. both the mix and the type of assets and liabilities found on the fi rm’s balance
sheet.
c. the most appropriate mix of short-term and long-term fi nancing.
d. the proportion of the fi rm’s earnings to be paid as dividend.
4) Wealth maximization as the goal of the fi rm implies enhancing the wealth of
a. the fi rm’s stockholders.
b. the Board of Directors.
c. the fi rm’s employees.
d. the federal government.
5) The amount earned during the accounting period on each outstanding share
of common stock is called
a. common stock dividend.
b. net profi ts after taxes.
c. earnings per share.
d. net income.
6) Cash fl ow and risk are the key determinants in share price. Increased cash
fl ow results in ________, other things remaining the same.
a. an unchanged share price
b. a lower share price
c. an undetermined share price
d. a higher share price
Multiple Choice Questions (Enter your answers on the enclosed answer sheet)
2
Final Examination
Financial Management
7) A more recent issue that is causing major problems in the business community
is
a. short-term versus long-term fi nancial goals of management.
b. the privatization of ownership.
c. ethical problems.
d. environmental concerns.
8) The implementation of a pro-active ethics program is expected to result in
a. a positive corporate image and increased respect, but is not expected to affect
cash fl ows.
b. a positive corporate image and increased respect, but is not expected to affect
share price.
c. an increased share price resulting from a decrease in risk, but is not expected
to affect cash fl ows.
d. a positive corporate image and increased respect, a reduction in risk, and enhanced
cash fl ow resulting in an increase in share price.
9) The Sarbanes-Oxley Act of 2002 was passed in response to
a. the decline in technology stocks.
b. insider trading activities.
c. false disclosures in fi nancial reporting.
d. all of the above
10) The key participants in fi nancial transactions are individuals, businesses,
and governments. Individuals are net ________ of funds, and businesses are
net ________ of funds.
a. demanders; suppliers
b. purchasers; sellers
c. suppliers; demanders
d. users; providers
11) The over-the-counter (OTC) market is
a. an intangible market for unlisted securities.
b. a place where securities are bought and sold.
c. the New York Stock Exchange.
d. an organized st.
1) Which of the following legal forms of organization is character.docxdorishigh
1) Which of the following legal forms of organization is characterized by limitedliability?
a. Professional partnership
b. Sole proprietorship
c. Corporation
d. Partnership
2) The financial manager may be responsible for any of the following EXCEPT
a. keeping track of quarterly tax payments.
b. analyzing quarterly budget and performance reports.
c. analyzing the effects of more debt on the firm’s capital structure.
d. determining whether to accept or reject a capital asset acquisition.
3) The financial manager’s financing decisions determine
a. both the mix and the type of assets found on the firm’s balance sheet.
b. both the mix and the type of assets and liabilities found on the firm’s balance
sheet.
c. the most appropriate mix of short-term and long-term financing.
d. the proportion of the firm’s earnings to be paid as dividend.
4) Wealth maximization as the goal of the firm implies enhancing the wealth of
a. the firm’s stockholders.
b. the Board of Directors.
c. the firm’s employees.
d. the federal government.
5) The amount earned during the accounting period on each outstanding shareof common stock is called
a. common stock dividend.
b. net profits after taxes.
c. earnings per share.
d. net income.
6) Cash flow and risk are the key determinants in share price. Increased cashflow results in ________, other things remaining the same.
a. an unchanged share price
b. a lower share price
c. an undetermined share price
d. a higher share price
7) A more recent issue that is causing major problems in the business communityis
a. short-term versus long-term financial goals of management.
b. the privatization of ownership.
c. ethical problems.
d. environmental concerns.
8) The implementation of a pro-active ethics program is expected to result in
a. a positive corporate image and increased respect, but is not expected to affect
cash flows.
b. a positive corporate image and increased respect, but is not expected to affect
share price.
c. an increased share price resulting from a decrease in risk, but is not expectedto affect cash flows.
d. a positive corporate image and increased respect, a reduction in risk, and enhancedcash flow resulting in an increase in share price.
9) The Sarbanes-Oxley Act of 2002 was passed in response to
a. the decline in technology stocks.
b. insider trading activities.
c. false disclosures in financial reporting.
d. all of the above
10) The key participants in financial transactions are individuals, businesses,and governments. Individuals are net ________ of funds, and businesses arenet ________ of funds.
a. demanders; suppliers
b. purchasers; sellers
c. suppliers; demanders
d. users; providers
11) The over-the-counter (OTC) market is
a. an intangible market for unlisted securities.
b. a place where securities are bought and sold.
c. the New York Stock Exchange.
d. an organized stock exchange.
12) The two key financial markets are
a. primary market and secondary market.
b. capital market and s ...
1. (TCO 4) Which of the following is true regarding the eval.docxdorishigh
1. (TCO 4) Which of the following is true regarding the evaluation of projects?
a. Sunk costs should be included
b. Erosion effects should not be considered
c. Financing costs need to be included
d. Opportunity costs are relevant
2. (TCO4) There are several disadvantages to the payback method, among them:
a. Payback ignores the time value of money
b. Payback can be used in conjunction with time adjusted methods of evaluation.
c. Payback is easy to use and to understand
d. None of the above is a disadvantage
3. (TCO 3 and 4) A net present value of zero implies that an investment:
a. Has no initial cost.
b. Has an expected return that is less than the required return
c. Should be rejected even if the discount rate is lowered
d. Never pays back its initial cost
e. Is earning a return that exactly matches the requirement
4. (TCO 3 and 4) Portman’s is considering adding a new product to its lineup. This product is expected to generate sales for three years, after which the product will be discontinued. What is the project’s net present value, if the firm wants to earn a 12% rate of return?
a. Year Cash flow 0 =-62,000 1 =10,730 2 =$20,190 3 =40,340
b. $7,611.08
c. $6,795.61
d. $1,084.41
e. $4,862.07 or $9,682.26
5. (TC04) The Inventive Co. is considering a new project. This project requires an initial cash investment of $70,000. The project will generate cash inflows of $10,500 in the first year. Then, the project will do nothing for two years, after which time cash inflows of $10,500 in the first year. Then, the project will do nothing for two years, after which time cash inflows of $25,000 will be generated for four years. How long will it take the Inventive Co. to recover its $70,000 investment?
a. 5.16
b. 5.38
c. 6.11
d. 6.62
e. 6.94
6. (TCO 4) The postponement of a project until conditions are more favorable:
a. Is a valuable option
b. Is referred to as the option to extend
c. Could not cause a negative net present value project to become a positive net present value project
d. Will generally cause the internal rate of return for a project to decline.
7. (TCO 4) The situation that exists when the units within a business are allotted a fixed amount of money for capital budgeting , is referred to as :
a. Soft rationing
b. Hard rationing
c. Unit capital rationing allocated planning or Strategic planning
8. (TCO 3 and 4) ABC Cameras is considering an investment that will have a cost of $10,000
a. And the following cash flows: $6,000 in year 1, $4,000 in year 2 and $3,000 in year 3. Assume the cost of capital is 10%. Which of the following is true regarding this investment?
b. The net present value of the project is $11,000
c. This project should be accepted because it has a negative net present value
d. This project should be accepted because it has a payback higher than 3 years
e. The net present value of the project is close to $1,000
9. (TCO 4) Assume company X plans to invest $60,000 in new computers. Using Ta ...
CFIN 601 - Corporate Finance
Comprehensive Individual Assignment
Section 1: Multiple Choice (30 questions; 30 marks). Select the best alternative for each of the following statements.
1.
Deciding whether or not to open a new store is part of the process known as:
A)
Capital budgeting.
B)
Credit management.
C)
Capital structure.
D)
Cash management.
E)
Working capital management.
2. .
The total market value of the firm's equity is determined by _______________.
A)
the corporate treasurer
B)
the firm's financial manager
C)
the firm's stakeholders
D)
the firm's stockholders
E)
regulatory authorities
3.
Which of the following are disadvantages of the partnership form of ownership?
A)
Personal liability and double taxation
B)
Personal liability and limited firm life
C)
Double taxation and limited firm life
D)
Ease of formation and unlimited firm life
E)
Ease of formation and ease of ownership transfer
4.
Which of the following is generally true regarding liquidity as it relates to the firm?
A)
Liquidity is detrimental to a firm because it allows the firm to pay its bills more easily, thereby avoiding financial distress
B)
Liquidity is valuable to a firm because liquid assets can be sold quickly without much loss in value
C)
Liquidity is valuable to a firm because a firm can borrow money using its liquid assets, such as a warehouse, as collateral
D)
Assets are generally listed on a firm's balance sheet in the order of increasing liquidity
E)
Liquid assets generally earn a large return, especially in comparison to illiquid assets
5.
An income statement _____________________.
A)
measures performance as a snapshot on a specific date
B)
prepared according to GAAP, will show revenue when it accrues
C)
excludes accrued taxes payable
D)
includes expenses only when they are ultimately paid off in cash
E)
is an accurate representation of a firm's net cash flows
6.
Suppose you have the 2003 income statement for a firm, along with the 12/31/2002 and 12/31/2003 balance sheets. How would you calculate net capital spending?
A)
Ending net fixed assets (2003) minus beginning net fixed assets (2002) plus 2003 depreciation
B)
Beginning net fixed assets (2002) minus ending net fixed assets (2003) plus 2003 depreciation
C)
Beginning net fixed assets (2002) plus ending net fixed assets (2003) minus 2003 depreciation
D)
Ending net fixed assets (2003) minus beginning net fixed assets (2002) plus 2003 taxes paid
E)
Ending net fixed assets (2003) plus beginning net fixed assets (2002) minus 2003 taxes paid
7.
The net change in cash over a period of time is equal to
A)
cash uses plus operating cash flows
B)
additions to current assets minus expenditures on fixed assets
C)
net income plus depreciation, minus taxes and dividends
D)
ending cash minus changes in long-term debt minus additions to fixed assets
E)
cash flow from operating activities plus net cash from investment and financing activiti ...
From the Editor's Desk: 115th Father's day Celebration - When we see Father's day in Hindu context, Nanda Baba is the most vivid figure which comes to the mind. Nanda Baba who was the foster father of Lord Krishna is known to provide love, care and affection to Lord Krishna and Balarama along with his wife Yashoda; Letter’s to the Editor: Mother's Day - Mother is a precious life for their children. Mother is life breath for her children. Mother's lap is the world happiness whose debt can never be paid.
Meet Dinah Mattingly – Larry Bird’s Partner in Life and Loveget joys
Get an intimate look at Dinah Mattingly’s life alongside NBA icon Larry Bird. From their humble beginnings to their life today, discover the love and partnership that have defined their relationship.
240529_Teleprotection Global Market Report 2024.pdfMadhura TBRC
The teleprotection market size has grown
exponentially in recent years. It will grow from
$21.92 billion in 2023 to $28.11 billion in 2024 at a
compound annual growth rate (CAGR) of 28.2%. The
teleprotection market size is expected to see
exponential growth in the next few years. It will grow
to $70.77 billion in 2028 at a compound annual
growth rate (CAGR) of 26.0%.
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From Slave to Scourge: The Existential Choice of Django Unchained. The Philos...Rodney Thomas Jr
#SSAPhilosophy #DjangoUnchained #DjangoFreeman #ExistentialPhilosophy #Freedom #Identity #Justice #Courage #Rebellion #Transformation
Welcome to SSA Philosophy, your ultimate destination for diving deep into the profound philosophies of iconic characters from video games, movies, and TV shows. In this episode, we explore the powerful journey and existential philosophy of Django Freeman from Quentin Tarantino’s masterful film, "Django Unchained," in our video titled, "From Slave to Scourge: The Existential Choice of Django Unchained. The Philosophy of Django Freeman!"
From Slave to Scourge: The Existential Choice of Django Unchained – The Philosophy of Django Freeman!
Join me as we delve into the existential philosophy of Django Freeman, uncovering the profound lessons and timeless wisdom his character offers. Through his story, we find inspiration in the power of choice, the quest for justice, and the courage to defy oppression. Django Freeman’s philosophy is a testament to the human spirit’s unyielding drive for freedom and justice.
Don’t forget to like, comment, and subscribe to SSA Philosophy for more in-depth explorations of the philosophies behind your favorite characters. Hit the notification bell to stay updated on our latest videos. Let’s discover the principles that shape these icons and the profound lessons they offer.
Django Freeman’s story is one of the most compelling narratives of transformation and empowerment in cinema. A former slave turned relentless bounty hunter, Django’s journey is not just a physical liberation but an existential quest for identity, justice, and retribution. This video delves into the core philosophical elements that define Django’s character and the profound choices he makes throughout his journey.
Link to video: https://youtu.be/GszqrXk38qk
Meet Crazyjamjam - A TikTok Sensation | Blog EternalBlog Eternal
Crazyjamjam, the TikTok star everyone's talking about! Uncover her secrets to success, viral trends, and more in this exclusive feature on Blog Eternal.
Source: https://blogeternal.com/celebrity/crazyjamjam-leaks/
As a film director, I have always been awestruck by the magic of animation. Animation, a medium once considered solely for the amusement of children, has undergone a significant transformation over the years. Its evolution from a rudimentary form of entertainment to a sophisticated form of storytelling has stirred my creativity and expanded my vision, offering limitless possibilities in the realm of cinematic storytelling.
Skeem Saam in June 2024 available on ForumIsaac More
Monday, June 3, 2024 - Episode 241: Sergeant Rathebe nabs a top scammer in Turfloop. Meikie is furious at her uncle's reaction to the truth about Ntswaki.
Tuesday, June 4, 2024 - Episode 242: Babeile uncovers the truth behind Rathebe’s latest actions. Leeto's announcement shocks his employees, and Ntswaki’s ordeal haunts her family.
Wednesday, June 5, 2024 - Episode 243: Rathebe blocks Babeile from investigating further. Melita warns Eunice to stay clear of Mr. Kgomo.
Thursday, June 6, 2024 - Episode 244: Tbose surrenders to the police while an intruder meddles in his affairs. Rathebe's secret mission faces a setback.
Friday, June 7, 2024 - Episode 245: Rathebe’s antics reach Kganyago. Tbose dodges a bullet, but a nightmare looms. Mr. Kgomo accuses Melita of witchcraft.
Monday, June 10, 2024 - Episode 246: Ntswaki struggles on her first day back at school. Babeile is stunned by Rathebe’s romance with Bullet Mabuza.
Tuesday, June 11, 2024 - Episode 247: An unexpected turn halts Rathebe’s investigation. The press discovers Mr. Kgomo’s affair with a young employee.
Wednesday, June 12, 2024 - Episode 248: Rathebe chases a criminal, resorting to gunfire. Turf High is rife with tension and transfer threats.
Thursday, June 13, 2024 - Episode 249: Rathebe traps Kganyago. John warns Toby to stop harassing Ntswaki.
Friday, June 14, 2024 - Episode 250: Babeile is cleared to investigate Rathebe. Melita gains Mr. Kgomo’s trust, and Jacobeth devises a financial solution.
Monday, June 17, 2024 - Episode 251: Rathebe feels the pressure as Babeile closes in. Mr. Kgomo and Eunice clash. Jacobeth risks her safety in pursuit of Kganyago.
Tuesday, June 18, 2024 - Episode 252: Bullet Mabuza retaliates against Jacobeth. Pitsi inadvertently reveals his parents’ plans. Nkosi is shocked by Khwezi’s decision on LJ’s future.
Wednesday, June 19, 2024 - Episode 253: Jacobeth is ensnared in deceit. Evelyn is stressed over Toby’s case, and Letetswe reveals shocking academic results.
Thursday, June 20, 2024 - Episode 254: Elizabeth learns Jacobeth is in Mpumalanga. Kganyago's past is exposed, and Lehasa discovers his son is in KZN.
Friday, June 21, 2024 - Episode 255: Elizabeth confirms Jacobeth’s dubious activities in Mpumalanga. Rathebe lies about her relationship with Bullet, and Jacobeth faces theft accusations.
Monday, June 24, 2024 - Episode 256: Rathebe spies on Kganyago. Lehasa plans to retrieve his son from KZN, fearing what awaits.
Tuesday, June 25, 2024 - Episode 257: MaNtuli fears for Kwaito’s safety in Mpumalanga. Mr. Kgomo and Melita reconcile.
Wednesday, June 26, 2024 - Episode 258: Kganyago makes a bold escape. Elizabeth receives a shocking message from Kwaito. Mrs. Khoza defends her husband against scam accusations.
Thursday, June 27, 2024 - Episode 259: Babeile's skillful arrest changes the game. Tbose and Kwaito face a hostage crisis.
Friday, June 28, 2024 - Episode 260: Two women face the reality of being scammed. Turf is rocked by breaking
Tom Selleck Net Worth: A Comprehensive Analysisgreendigital
Over several decades, Tom Selleck, a name synonymous with charisma. From his iconic role as Thomas Magnum in the television series "Magnum, P.I." to his enduring presence in "Blue Bloods," Selleck has captivated audiences with his versatility and charm. As a result, "Tom Selleck net worth" has become a topic of great interest among fans. and financial enthusiasts alike. This article delves deep into Tom Selleck's wealth, exploring his career, assets, endorsements. and business ventures that contribute to his impressive economic standing.
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Early Life and Career Beginnings
The Foundation of Tom Selleck's Wealth
Born on January 29, 1945, in Detroit, Michigan, Tom Selleck grew up in Sherman Oaks, California. His journey towards building a large net worth began with humble origins. , Selleck pursued a business administration degree at the University of Southern California (USC) on a basketball scholarship. But, his interest shifted towards acting. leading him to study at the Hills Playhouse under Milton Katselas.
Minor roles in television and films marked Selleck's early career. He appeared in commercials and took on small parts in T.V. series such as "The Dating Game" and "Lancer." These initial steps, although modest. laid the groundwork for his future success and the growth of Tom Selleck net worth. Breakthrough with "Magnum, P.I."
The Role that Defined Tom Selleck's Career
Tom Selleck's breakthrough came with the role of Thomas Magnum in the CBS television series "Magnum, P.I." (1980-1988). This role made him a household name and boosted his net worth. The series' popularity resulted in Selleck earning large salaries. leading to financial stability and increased recognition in Hollywood.
"Magnum P.I." garnered high ratings and critical acclaim during its run. Selleck's portrayal of the charming and resourceful private investigator resonated with audiences. making him one of the most beloved television actors of the 1980s. The success of "Magnum P.I." played a pivotal role in shaping Tom Selleck net worth, establishing him as a major star.
Film Career and Diversification
Expanding Tom Selleck's Financial Portfolio
While "Magnum, P.I." was a cornerstone of Selleck's career, he did not limit himself to television. He ventured into films, further enhancing Tom Selleck net worth. His filmography includes notable movies such as "Three Men and a Baby" (1987). which became the highest-grossing film of the year, and its sequel, "Three Men and a Little Lady" (1990). These box office successes contributed to his wealth.
Selleck's versatility allowed him to transition between genres. from comedies like "Mr. Baseball" (1992) to westerns such as "Quigley Down Under" (1990). This diversification showcased his acting range. and provided many income streams, reinforcing Tom Selleck net worth.
Television Resurgence with "Blue Bloods"
Sustaining Wealth through Consistent Success
In 2010, Tom Selleck began starring as Frank Reagan i
Young Tom Selleck: A Journey Through His Early Years and Rise to Stardomgreendigital
Introduction
When one thinks of Hollywood legends, Tom Selleck is a name that comes to mind. Known for his charming smile, rugged good looks. and the iconic mustache that has become synonymous with his persona. Tom Selleck has had a prolific career spanning decades. But, the journey of young Tom Selleck, from his early years to becoming a household name. is a story filled with determination, talent, and a touch of luck. This article delves into young Tom Selleck's life, background, early struggles. and pivotal moments that led to his rise in Hollywood.
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Early Life and Background
Family Roots and Childhood
Thomas William Selleck was born in Detroit, Michigan, on January 29, 1945. He was the second of four children in a close-knit family. His father, Robert Dean Selleck, was a real estate investor and executive. while his mother, Martha Selleck, was a homemaker. The Selleck family relocated to Sherman Oaks, California. when Tom was a child, setting the stage for his future in the entertainment industry.
Education and Early Interests
Growing up, young Tom Selleck was an active and athletic child. He attended Grant High School in Van Nuys, California. where he excelled in sports, particularly basketball. His tall and athletic build made him a standout player, and he earned a basketball scholarship to the University of Southern California (U.S.C.). While at U.S.C., Selleck studied business administration. but his interests shifted toward acting.
Discovery of Acting Passion
Tom Selleck's journey into acting was serendipitous. During his time at U.S.C., a drama coach encouraged him to try acting. This nudge led him to join the Hills Playhouse, where he began honing his craft. Transitioning from an aspiring athlete to an actor took time. but young Tom Selleck became drawn to the performance world.
Early Career Struggles
Breaking Into the Industry
The path to stardom was a challenging one for young Tom Selleck. Like many aspiring actors, he faced many rejections and struggled to find steady work. A series of minor roles and guest appearances on television shows marked his early career. In 1965, he debuted on the syndicated show "The Dating Game." which gave him some exposure but did not lead to immediate success.
The Commercial Breakthrough
During the late 1960s and early 1970s, Selleck began appearing in television commercials. His rugged good looks and charismatic presence made him a popular brand choice. He starred in advertisements for Pepsi-Cola, Revlon, and Close-Up toothpaste. These commercials provided financial stability and helped him gain visibility in the industry.
Struggling Actor in Hollywood
Despite his success in commercials. breaking into large acting roles remained a challenge for young Tom Selleck. He auditioned and took on small parts in T.V. shows and movies. Some of his early television appearances included roles in popular series like Lancer, The F.B.I., and Bracken's World. But, it would take a
Create a Seamless Viewing Experience with Your Own Custom OTT Player.pdfGenny Knight
As the popularity of online streaming continues to rise, the significance of providing outstanding viewing experiences cannot be emphasized enough. Tailored OTT players present a robust solution for service providers aiming to enhance their offerings and engage audiences in a competitive market. Through embracing customization, companies can craft immersive, individualized experiences that effectively hold viewers' attention, entertain them, and encourage repeat usage.
Panchayat Season 3 - Official Trailer.pdfSuleman Rana
The dearest series "Panchayat" is set to make a victorious return with its third season, and the fervor is discernible. The authority trailer, delivered on May 28, guarantees one more enamoring venture through the country heartland of India.
Jitendra Kumar keeps on sparkling as Abhishek Tripathi, the city-reared engineer who ends up functioning as the secretary of the Panchayat office in the curious town of Phulera. His nuanced depiction of a young fellow exploring the difficulties of country life while endeavoring to adjust to his new environmental factors has earned far and wide recognition.
Neena Gupta and Raghubir Yadav return as Manju Devi and Brij Bhushan Dubey, separately. Their dynamic science and immaculate acting rejuvenate the hardships of town administration. Gupta's depiction of the town Pradhan with an ever-evolving outlook, matched with Yadav's carefully prepared exhibition, adds profundity and credibility to the story.
New Difficulties and Experiences
The trailer indicates new difficulties anticipating the characters, as Abhishek keeps on wrestling with his part in the town and his yearnings for a superior future. The series has reliably offset humor with social editorial, and Season 3 looks ready to dig much more profound into the intricacies of rustic organization and self-awareness.
Watchers can hope to see a greater amount of the enchanting and particular residents who have become fan top picks. Their connections and the one of a kind cut of-life situations give a reviving and interesting portrayal of provincial India, featuring the two its appeal and its difficulties.
A Mix of Humor and Heart
One of the signs of "Panchayat" is its capacity to mix humor with sincere narrating. The trailer features minutes that guarantee to convey giggles, as well as scenes that pull at the heartstrings. This equilibrium has been a critical calculate the show's prosperity, resounding with crowds across different socioeconomics.
Creation Greatness
The creation quality remaining parts first rate, with the beautiful setting of Phulera town filling in as a scenery that upgrades the narrating. The meticulousness in portraying provincial life, joined with sharp composition and solid exhibitions, guarantees that "Panchayat" keeps on hanging out in the packed web series scene.
Expectation and Delivery
As the delivery date draws near, expectation for "Panchayat" Season 3 is at a record-breaking high. The authority trailer has previously created critical buzz, with fans enthusiastically anticipating the continuation of Abhishek Tripathi's excursion and the new undertakings that lie ahead in Phulera.
All in all, the authority trailer for "Panchayat" Season 3 recommends that watchers are in for another drawing in and engaging ride. Yet again with its charming characters, convincing story, and ideal mix of humor and show, the new season is set to enamor crowds. Write in your schedules and prepare to get back to the endearing universe of "Panchayat."
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In the vast landscape of cinema, stories have been told, retold, and reimagined in countless ways. At the heart of this narrative evolution lies the concept of a "remake". A successful remake allows us to revisit cherished tales through a fresh lens, often reflecting a different era's perspective or harnessing the power of advanced technology. Yet, the question remains, what makes a remake successful? Today, we will delve deeper into this subject, identifying the key ingredients that contribute to the success of a remake.
Maximizing Your Streaming Experience with XCIPTV- Tips for 2024.pdfXtreame HDTV
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Scandal! Teasers June 2024 on etv Forum.co.zaIsaac More
Monday, 3 June 2024
Episode 47
A friend is compelled to expose a manipulative scheme to prevent another from making a grave mistake. In a frantic bid to save Jojo, Phakamile agrees to a meeting that unbeknownst to her, will seal her fate.
Tuesday, 4 June 2024
Episode 48
A mother, with her son's best interests at heart, finds him unready to heed her advice. Motshabi finds herself in an unmanageable situation, sinking fast like in quicksand.
Wednesday, 5 June 2024
Episode 49
A woman fabricates a diabolical lie to cover up an indiscretion. Overwhelmed by guilt, she makes a spontaneous confession that could be devastating to another heart.
Thursday, 6 June 2024
Episode 50
Linda unwittingly discloses damning information. Nhlamulo and Vuvu try to guide their friend towards the right decision.
Friday, 7 June 2024
Episode 51
Jojo's life continues to spiral out of control. Dintle weaves a web of lies to conceal that she is not as successful as everyone believes.
Monday, 10 June 2024
Episode 52
A heated confrontation between lovers leads to a devastating admission of guilt. Dintle's desperation takes a new turn, leaving her with dwindling options.
Tuesday, 11 June 2024
Episode 53
Unable to resort to violence, Taps issues a verbal threat, leaving Mdala unsettled. A sister must explain her life choices to regain her brother's trust.
Wednesday, 12 June 2024
Episode 54
Winnie makes a very troubling discovery. Taps follows through on his threat, leaving a woman reeling. Layla, oblivious to the truth, offers an incentive.
Thursday, 13 June 2024
Episode 55
A nosy relative arrives just in time to thwart a man's fatal decision. Dintle manipulates Khanyi to tug at Mo's heartstrings and get what she wants.
Friday, 14 June 2024
Episode 56
Tlhogi is shocked by Mdala's reaction following the revelation of their indiscretion. Jojo is in disbelief when the punishment for his crime is revealed.
Monday, 17 June 2024
Episode 57
A woman reprimands another to stay in her lane, leading to a damning revelation. A man decides to leave his broken life behind.
Tuesday, 18 June 2024
Episode 58
Nhlamulo learns that due to his actions, his worst fears have come true. Caiphus' extravagant promises to suppliers get him into trouble with Ndu.
Wednesday, 19 June 2024
Episode 59
A woman manages to kill two birds with one stone. Business doom looms over Chillax. A sobering incident makes a woman realize how far she's fallen.
Thursday, 20 June 2024
Episode 60
Taps' offer to help Nhlamulo comes with hidden motives. Caiphus' new ideas for Chillax have MaHilda excited. A blast from the past recognizes Dintle, not for her newfound fame.
Friday, 21 June 2024
Episode 61
Taps is hungry for revenge and finds a rope to hang Mdala with. Chillax's new job opportunity elicits mixed reactions from the public. Roommates' initial meeting starts off on the wrong foot.
Monday, 24 June 2024
Episode 62
Taps seizes new information and recruits someone on the inside. Mary's new job
1. ECO 410 Week 11 Quiz – Strayer
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Quiz 10 Chapter 19 and 20
Working Capital Management
19.1 Trident Brazil's Operating Cycle
Multiple Choice
1) Working capital management involves the management of:
A) current and long-term assets.
B) current assets and current liabilities.
C) current liabilities and long-term assets.
D) current liabilities and long-term debt and equity.
2) The cash conversion cycle:
A) is a subset of the operating cycle.
B) occurs in the latter stages of the operating cycle.
C) is a subset of the accounts receivable period.
D) all of the above.
3) The proper order of events for the operating cycle is:
A) input serving period, accounts receivable period, inventory period, quotation
period.
B) quotation period, accounts receivable period, inventory period, input servicing
period.
C) quotation period, input servicing period, inventory period, accounts receivable
period.
D) accounts receivable period, input servicing period, quotation period, inventory
period.
2. 4) TrinityApps Corporation (US) has bid a price on a project for a Korean firm, but
the Korean firm has not yet placed an order. This portion of the operating cycle is best
described as the:
A) quotation period.
B) input sourcing period.
C) cash conversion cycle.
D) accounts payable cycle.
5) The period in the cash cycle where the customer places the order, and the firm
determines what materials for manufacture are NOT in inventory is called the
________ period.
A) quotation
B) input sourcing
C) accounts payable
D) accounts receivable
6) The accounts payable period of the operating cycle:
A) is equal to the inventory period.
B) may run concurrently but shorter than the inventory period.
C) may run concurrently but longer than the inventory period.
D) Any one of the above may be true.
True/False
1) Typically, the inventory period and the accounts payable period at least partially
overlap in the firms operating cycle.
2) Typically, the inventory period and the accounts receivable period at least partially
overlap in the firms operating cycle.
3. 3) The operating cycle begins with the quotation period and ends with the accounts
payable period.
19.2 Trident's Repositioning Decisions
Multiple Choice
1) Of the following, which would NOT be a significant decision-making factor in a
multinational firm's repositioning decision-making?
A) the subsidiary's tax environment (high or low)
B) the stability of the local currency
C) the ability to move capital in and out of the subsidiary's country
D) All of the above are significant factors.
True/False
1) In a country with a relatively high tax rate, it make sense the the MNE to reposition
cash flows TO that country.
2) The MNE would prefer to leave capital with a firm in a country with high growth
prospects over the alternative of leaving capital with a firm in a country with low
growth prospects (other factors equal).
19.3 Constraints on Repositioning Funds
Multiple Choice
1) Each of the following is listed by your authors as a constraint on repositioning
funds by an MNE EXCEPT:
A) political constraints.
B) tax constraints.
C) transaction costs.
D) All of the above are listed by your authors.
4. True/False
1) Local liquidity needs sometimes impact a firm's worldwide optimal cash position.
2) The constraints on repositioning of funds that occur when exchanging one currency
for another are considered to be primarily political constraints.
3) Political constraints can block the transfer of funds either overtly or covertly.
OVERT blockage occurs when dividends or other forms of fund remittances are
severely limited, heavily taxed, or excessively delayed by the need for bureaucratic
approval.
19.4 Conduits for Moving Funds by Unbundling Them
Multiple Choice
1) ________ allows a multinational firm to recover funds from subsidiaries without
piquing host country sensitivities over large dividend drains.
A) Unbundling funds
B) Bundling funds
C) Coordinating funds
D) none of the above
2) Unbundling of funds by an MNE may be a useful practice for which of the
following reasons?
A) An increase in the funds flow (charges) in any of the before-tax categories reduces
the taxable profits of the foreign subsidiary if the host-country tax authorities
acknowledge the charge as a legitimate expense.
5. B) An item-by-item matching of remittance to input, such as royalties for intellectual
property, and fees for patents and advice, is equitable to the host country and foreign
investor alike.
C) Unbundling facilitates allocation of overhead from a parent''s international
division, so-called shared services, to each operating subsidiary in accordance with a
predetermined formula.
D) All of the reasons listed above
True/False
1) If all investment inputs are unbundled, part of what might have been classified as
residual profits may turn out to be tax-deductible expenses related to a specific
purchased benefit.
2) The before-tax/after-tax distinction is quite significant to a parent company
attempting to repatriate funds in the most tax-efficient method if it is attempting to
manage its own foreign tax credit/deficits between foreign units.
19.5 International Dividend Remittances
Multiple Choice
1) In anticipation of a foreign exchange loss, an MNE may speed up the transfer of
funds out of the company via dividends. When undertaking such an activity the MNE
must be concerned with all of the following EXCEPT:
A) interest rate differences between the two countries.
B) the negative impact on host country relations.
C) defection on the part of executives in the home headquarters.
D) MNEs must be concerned with all of the above.
True/False
1) Political risk may motivate parent firms to require foreign subsidiaries to remit all
locally generated funds above that required to internally finance growth in sales and
planned capital expansions.
6. 19.6 Net Working Capital
Multiple Choice
1) One possible definition of net working capital (NWC) provided by your authors is:
A) NWC = A/R + inventory - A/P.
B) NWC = cash + A/P - inventory.
C) NWC = A/P + A/R - short-term loans.
D) NWC = A/R + inventory - long-term debt.
2) Which of the following actions will result in an increase in NWC?
A) an increase in A/P that exceeds an increase in A/R
B) a reduction in inventory
C) a reduction in A/P plus a smaller reduction in A/R
D) an increase in A/P and a smaller reduction in inventory
3) Which of the following statements is true?
A) A/R provide part of the funding for inventory.
B) A/P provide part of the funding for A/R and inventory.
C) Inventory pays for A/R and A/P.
D) None of the above is true.
TABLE 19.1
Use the information to answer following question(s).
TrinityApps Corporation Balance Sheet December 31, 20xx
4) Refer to Table 19.1. The NWC for TrinityApps is:
A) $80,000
B) $680,000
C) $35,000
D) $45,000
7. 5) Refer to Table 19.1. If TrinityApps increases inventory by $10,000 and A/P also by
$10,000, the net change in NWC is:
A) $20,000
B) $10,000
C) $0
D) none of the above
6) Refer to Table 19.1. NWC currently makes up what percentage of total firm value
for TrinityApps?
A) 6.6%
B) 5.1%
C) 11.8%
D) 9.2%
Instruction 19.1:
Use the information to answer the following question(s).
Sunny Manufacturing Systems Inc. is supplied with plastic chips for their plastic
injection molding manufacturing process. Their supplier, Sun Chemical, Inc. offers
financing terms of a 2% discount if the accounts payable are paid in 10 days or less
with the full balance due in 45 days. Short-term financing available to Sunny
Manufacturing is available at an annual rate of 9.6%. Sunny Manufacturing has just
purchased $400,000 of plastic chips from Sun Chemical.
7) Refer to Instruction 19.1. What is the amount of money Sunny Manufacturing will
save on accounts payable if they accept the discount?
A) $400,000
B) $8,000
C) $33,333
D) $20,000
8) Refer to Instruction 19.1. What is the effective annual interest cost of supplier
financing offered by Sun Chemical?
8. A) 7.3%
B) 9.5%
C) 10.4%
D) 22.9%
9) Refer to Instruction 19.1. Should Sunny Manufacturing take the discount offered
by Sun Chemical?
A) Yes, Sunny Manufacturing will get to use their raw materials 35 days earlier than
if they waited to pay at the end of the 45 days.
B) No, Sunny Manufacturing will not have to pay any interest if they just pay in 45
days.
C) Yes, Sunny Manufacturing's short term borrowing rate of 9.6% is less than Sun's
offered cost of carry of 22.9%.
D) No, it costs Sunny Manufacturing 22.9% to accept the discount and they are better
off paying the full amount in 45 days.
10) Days working capital is equal to:
A) days payables + days receivables - days inventory.
B) days inventory + days receivables - days payables.
C) days payables + days inventory + days receivables.
D) none of the above
11) Amundsen of Norway receives raw materials from their corporate parent in the
U.S. with payment terms of net 60 days. Most of their sales are to firms in Norway
where normal payment terms are net 30 days. This causes a problem for the
subsidiary with working capital management because:
A) accounts receivable are so much longer than accounts payable.
B) accounts payable are so much longer than accounts receivable.
C) accounts receivable and accounts payable are equal.
D) This doesn't really cause a problem; in fact it is to the benefit of the Norwegian
subsidiary.
True/False
9. 1) In principle, the firm tries to minimize its NWC balance.
2) Other things equal, managers prefer a lower "days working capital" to a higher one.
3) The authors present empirical evidence that shows the days sales basis for working
capital to be 30 days GREATER in the U.S. compared to a similar industry in Europe.
Essay
1) What is a free-trade zone? Identify three techniques and provide examples of how
firms and countries can benefit from having free trade zones.
19.7 International Cash Management
Multiple Choice
1) Other things equal, a firm would rather have ________ in a depreciating currency,
and ________ in an appreciating currency.
A) accounts receivable; accounts payable
B) accounts receivable; accounts receivable
C) accounts payable; accounts receivable
D) none of the above
2) Which of the following is NOT a precautionary motive for holding cash?
A) Anticipated funds to be remitted from several Middle East countries are in
question due to unrest in the region.
B) The firm has several short-term obligations in unhedged foreign currency-
denominated contracts.
C) The firm must pay ordinary wages in two days.
D) All are precautionary motives.
10. 3) Increases to cash flows can be anticipated if which of the following occurs?
A) A receivables contract is denominated in an appreciating foreign currency.
B) Sales are less than anticipated.
C) Days in accounts receivable increase by 15 days.
D) none of the above
4) A centralized depository benefits the firm primarily by:
A) reducing the cost of repatriating funds.
B) positioning profits where taxes are lowest.
C) reducing the total amount of capital employed within the total firm.
D) earning a higher rate of return than in domestic banking deposits.
5) The Clearing House Interbank Payment System (CHIPS) is:
A) the largest publicly operated payments system in the world.
B) owned and operated by the world's seven largest central banks.
C) a computerized network that connects banks globally.
D) none of the above
6) An organizational structure employed by an MNE to reduce its use of bank lending
for the support of operations is:
A) a centralized depository.
B) a reinvoicing center.
C) a cost center.
D) a syndicated bank.
7) ________ is the process that cancels via offset all, or part, of the debt owed by one
entity to another related entity.
A) Syndicated banking
B) Centralized depositing
C) Multilateral netting
11. D) Debt cancellation
True/False
1) In an inflationary economy, demand for credit usually exceeds supply.
2) For disbursement purposes, it is to the benefit of the firm to minimize float.
3) Regarding wire transfers, CHIPS actually clears transactions whereas SWIFT does
not.
4) A significant problem with centralized cash depositories is that they are isolated
from the rest of the firm and tend to be at an information disadvantage.
5) A reason for holding all precautionary balances in a central pool is that the total
pool, if centralized, can be reduced in size without any loss in the level of protection.
6) A disadvantage of a centralized cash management system is that managers will not
be able to get the lowest average rate available for the firm. Instead, it misses out on
the really low borrowing rates.
Essay
12. 1) Central depositories are used for international cash management. What is a central
depository? Identify and provide examples of at least three advantages to MNEs of
having a central depository.
19.8 Financing Working Capital
Multiple Choice
1) A precautionary cash balance:
A) is used to replace spoiled or damaged inventory.
B) is held to facilitate cash disbursements when receipts slow down.
C) is used for normal day-to-day operations.
D) is held for the benefit of a sister affiliate.
2) An in-house bank:
A) is a separate bank chartered to operate within a business firm.
B) is in fact a set of functions performed by the firm's existing treasury department.
C) assesses the credit standing of the bank's customers.
D) provides banking services for employees.
3) A foreign banking office that is separately incorporated in the host country is:
A) a correspondent bank.
B) a representative office.
C) a bank subsidiary.
D) an Edge Act corporation.
True/False
1) An Edge Act corporation is a subsidiary of a U.S. bank located outside of the U.S.
and incorporated to engage in international banking and financing operations.
13. 2) Because they are direct payments, dividends are among the most efficient way for
foreign subsidiaries to remit funds back to the parent.
3) Even though dividends are cash payments, firms typically must consider both cash
flow and net income when making dividend distribution decisions.
Chapter 20 International Trade Finance
20.1 The Trade Relationship
Multiple Choice
1) The exporter-importer relationship to a corporation of a foreign importer that has
not previously conducted business with the firm would be an:
A) unaffiliated known.
B) affiliated party.
C) unaffiliated unknown.
D) any of the above
2) Which of the following relationships between importing and exporting parties
would require the least detailed contract to conduct business?
A) affiliated party
B) unaffiliated unknown party
C) known unaffiliated party
D) domestic supplier
3) Polaris Corporation has made an agreement to ship goods to a foreign firm with
whom they have not entered into a contract for three years. However, the firms have
communicated regularly since the last sale three years ago. This is an example of an:
A) unaffiliated known party transaction.
B) unaffiliated unknown party transaction.
C) affiliated party transaction.
D) none of the above
14. True/False
1) Today, international trade is dominated by transactions between unaffiliated parties
(known or unknown).
2) Because most international transactions are between affiliated parties, international
transaction contracts are less complex, but the management of the total value of the
MNE is more complex.
3) An advantage of trading with an affiliated party for an MNE, compared to an
unaffiliated party, could be reduced contracting costs and less to even no need to
protect against nonpayment.
20.2 The Trade Dilemma
Multiple Choice
1) Which of the following is NOT a financial instrument that may be included in an
international trade transaction?
A) Letter of Credit
B) Sight Draft
C) Order bill of lading
D) Federal funds transaction
True/False
1) The fundamental dilemma of foreign trade is being unwilling to trust a stranger in a
foreign land.
15. 20.3 Benefits of the System
Multiple Choice
1) The combination of a letter of credit, a sight draft, and an order bill of lading
protect both parties in international transactions from which of the following?
A) the risk of noncompletion
B) the risk of foreign exchange risk (when combined with a various hedging
techniques)
C) the risk that financing will not be available due to foreign exchange risk
D) All of these risks are reduced when using these trade implements.
True/False
1) If a foreign exchange transaction calls for payment in the importer's currency, the
exporter has the foreign exchange risk.
2) If a foreign exchange transaction calls for payment in the exporter's currency, the
importer has the foreign exchange risk.
3) In the case of international trade, the risk of nonpayment is essentially eliminated
with the use of a letter of credit issued through a trustworthy bank.
20.4 Key Documents
Multiple Choice
1) Which of the following is NOT true regarding a letter of credit?
A) The importer and exporter agree on a transaction.
B) The importer applies to its local bank for the issuance of a letter of credit.
C) The exporter applies to its local bank for the issuance of a letter of credit.
16. D) The importer's bank cuts a sales contract based on its assessment of the
creditworthiness of the importer.
2) A/An ________ letter of credit is intended to serve as a means of arranging
payment, but not as a guarantee of payment.
A) irrevocable
B) revocable
C) confirmed
D) unconfirmed
3) A/An ________ letter of credit is an obligation only of the issuing bank whereas
other banks honor a/an ________ letter of credit.
A) irrevocable; unconfirmed
B) revocable; confirmed
C) confirmed; irrevocable
D) unconfirmed; confirmed
4) A letter of credit that is confirmed in the ________ country has the additional
advantage of eliminating the problem of ________.
A) exporter's; portfolio risk
B) importer's; blocked foreign exchange
C) exporter's; blocked foreign exchange
D) none of the above
5) The draft is the instrument normally used in international commerce to:
A) transfer product.
B) prove ownership.
C) transfer title.
D) initiate the sale.
17. 6) The ________ is the instrument normally used to actually effect payment in
international commerce.
A) banker's acceptance
B) bill of exchange
C) bill of lading
D) letter of credit
7) The person or company initiating the draft or bill of exchange is known as the:
A) maker.
B) drawer.
C) originator.
D) any of the above
8) The person or company to whom the draft or bill of exchange is addressed is the:
A) drawee.
B) drawer.
C) maker.
D) originator.
9) Drafts that have been accepted by banks become:
A) clean drafts.
B) nonmarketable.
C) banker's acceptances.
D) none of the above
10) Which of the following purposes is NOT served by the bill of lading?
A) It acts as a receipt.
B) It acts as a contract.
C) It acts as a document of title.
D) It acts as all of the above.
18. 11) The ________ is issued to the exporter by a common carrier transporting the
merchandise.
A) bill of lading
B) draft
C) banker's acceptance
D) line of credit
12) A straight bill of lading is most likely to be used under which of the following
circumstances?
A) when the merchandise has not been paid for in advance
B) when the transaction is being financed by a bank
C) when the shipment is to an affiliate
D) none of the above
13) To become a negotiable instrument, a draft must conform to the following
requirements EXCEPT:
A) it must be in writing and signed by the maker or drawer.
B) it must be payable to order or to bearer.
C) it must be written in English.
D) it must be payable on demand or at a fixed or determinable future date.
True/False
1) A letter of credit is an agreement by the bank to pay against documents rather than
the actual merchandise.
2) The primary advantage of a letter of credit is that it reduces risk.
19. 3) The major advantage of a letter of credit to the exporter is that the exporter does
not receive any funds until the documents have arrived at a local port or airfield.
4) To constitute a true letter of credit transaction, the issuing bank must receive a fee
or other valid business consideration for issuing the L/C.
5) To constitute a true letter of credit transaction, the bank's L/C must contain a
specified expiration date or a definite maturity.
6) To constitute a true letter of credit transaction, the bank's commitment must be
open-ended and cannot have a stated maximum amount of money.
7) A revocable L/C is intended to serve as a means of arranging payment but not as a
guarantee of payment.
8) A sight draft is payable on presentation to the drawee; a time draft allows a delay in
payment.
9) A draft is sometimes called a revocable letter of credit.
10) A time draft is payable on presentation to the drawee; the drawee must pay at
once or dishonor the draft. A sight draft, allows a delay in payment.
20. 11) The bill of lading is issued to the exporter by a common carrier transporting the
merchandise. It serves three purposes: a receipt, a contract, and a document of title.
Essay
1) Explain what a letter of credit (L/C) is, who the principle parties are, what the
principle advantage is, and how the L/C facilitates international trade.
20.5 Example: Documentation in a Typical Trade Transaction
Multiple Choice
1) In a typical international trade transaction, the order of activity would be which of
the following?
A) The foreign buyer places an order; The domestic manufacturer ships to the buyer;
The manufacturer's bank presents a draft and documents to the buyer's bank for
acceptance; The buyer's bank submits payment to the manufacturer's bank.
B) The domestic manufacturer ships to the buyer; The buyer's bank submits payment
to the manufacturer's bank; The foreign buyer places an order; The domestic
manufacturer ships to the buyer; The manufacturer's bank presents a draft and
documents to the buyer's bank for acceptance.
C) The foreign buyer places an order; The manufacturer's bank presents a draft and
documents to the buyer's bank for acceptance; The domestic manufacturer ships to the
buyer; The buyer's bank submits payment to the manufacturer's bank.
D) The domestic manufacturer ships to the buyer; The manufacturer's bank presents a
draft and documents to the buyer's bank for acceptance; The foreign buyer places an
order; The buyer's bank submits payment to the manufacturer's bank.
True/False
1) Because of the risks involved in international trade, most transactions follow
conventional methods and rarely require flexibility or creativity on the part of
management.
Comment: Few international transactions are typical and often require flexibility or
creativity on the part of management.
21. 20.6 Government Programs to Help Finance Exports
Multiple Choice
1) The Export-Import Bank is an independent agency of the U.S. government
established in 1934 to:
A) ship money abroad.
B) import agricultural products during the recession.
C) facilitate and stimulate foreign trade of the United States.
D) none of the above
2) In the United States, the Foreign Credit Insurance Corporation:
A) is a subsidiary of the Export-Import Bank.
B) provides letters of credit for U.S. importers.
C) provides letters of credit for U.S. exporters.
D) provides policies that protect U.S. exporters against default by foreign importers.
Instruction 20.1:
Use the information to answer the following question(s).
Cypress Systems Inc., of Florida, agrees to sell specialized hydroponic growing
equipment to Landcaster's of Australia. Because the two companies have never done
business with each other, Cypress requires a banker's acceptance as payment for the
$1,000,000 order. The banker's acceptance carries a 1.4% commission per annum and
payment is to be received in 6 months. If Cypress Inc. chooses to discount or sell the
bankers acceptance to its bank, the discount rate is 1.00% per annum.
3) Refer to Instruction 20.1. What is the size of the discount (not including the
commission fee) Cypress must take for receiving the proceeds of the sale today rather
than waiting for six months?
A) $7,000
B) $5,000
C) $12,000
D) $14.000
22. 4) Refer to Instruction 20.1. What is the size of the commission Cypress will pay the
bank for the banker's acceptance?
A) $7,000
B) $5,000
C) $12,000
D) $14,000
5) Refer to Instruction 20.1. What is the total Cypress can expect to receive if the firm
takes payment today?
A) $993,000
B) $995,000
C) $988,000
D) $996,000
6) Refer to Instruction 20.1. ________ is an unsecured promissory note.
A) A banker's acceptance
B) An overdraft
C) A securitized loan
D) Commercial paper
7) Rogue Spices Inc. has a Canadian receivables contract for $200,000 due in 270
days. The firm has been approached by a factoring firm that offers to purchase the
receivables at a 12% per annum discount plus a 1% charge for a nonrecourse clause.
What is the annualized percentage all-in-cost of this factoring alternative?
A) 14.82%
B) 13.00%
C) 12.00%
D) 9.09%
True/False
1) The Foreign Credit Insurance Association is a branch of the U.S. federal
government.
23. 2) The Export-Import Bank (also called Eximbank) is an independent agency of the
U.S. government, established in 1934 to stimulate and facilitate the foreign trade of
the United States.
3) Essentially, the Eximbank lends dollars to borrowers inside the United States for
the purchase of U.S. goods and services.
4) Banker's acceptances can be used to finance only international trade receivables but
not domestic trade receivables.
Essay
1) What is a banker's acceptance? How are they initiated? Why are they desirable for
the exporter?
20.7 Forfaiting: Medium- and Long-Term Financing
Multiple Choice
1) ________ is a specialized technique to eliminate the risk of nonpayment by
importers in instances where the importing firm and/or its government is perceived by
the exporter to be too risky for open account credit.
A) Forfeiting
B) Marketable Bank Shares
C) Forfaiting
D) Banker's Acceptances
True/False
24. 1) In effect, the forfaiter functions both as a money market firm and a specialist in
packaging financial deals involving country risk.