Top of Form Page 1 Question 1.1. (TCO 2) Select any actions that increase the cash account. Select all that apply: (Points : 3) payment is received on a receivable An interest payment on a notes payable is made A payment due is received from a client An old machine is sold for cash Question 2.2. (TCO 2) Which one of the following actions will decrease the operating cycle? (Points : 3) eliminating all inventory items that are slow sellers delaying payments to suppliers paying suppliers faster increasing the amount of inventory on the shelves granting customers more time to pay for their credit purchases Question 3.3. (TCO 2) Assume Green Leaf Nursery anticipated sales of $500 in the first quarter. Accounts receivable at the beginning of the year was $300. Assuming a collection period of 30 days, which is the approximate beginning balance for the second quarter? (Points : 3) $550 $630 $250 $170 None of the above Question 4.4. (TCO 2) Which one of the following practices will reduce a firm's collection float? (Points : 3) utilizing zero-balance accounts depositing checks weekly rather than daily requiring all customers pay by check rather than with cash installing a lockbox system paying all bills five days sooner Question 5.5. (TCO 2) Which of the following statements is false? Select all that apply: (Points : 3) The optimal credit policy minimizes the total cost of granting credit. Firms should avoid offering credit at all cost. An increase in a firm's average collection period generally indicates that an increased number of customers are taking advantage of the cash discount. The costs of the credit application process and the costs expended in the collection process are carrying costs of granting credit. Character refers to the ability of a firm to meet its credit obligations out its operating cash flows. Question 6.6. (TCO 2) You place an order for 100 units of inventory Part A at a unit price of $522. The supplier offers terms of 3/25, net 40. How much should you remit if you take the discount? (Points : 3) $52,200 $50,634 $51,678 None of the above Question 7.7. (TCO 2) Auto Parts sells 1,600 electric parts per month and then reorders another 1,600 parts. If the relevant carrying cost per electric part is $4 and the fixed order cost is $650, what is the total carrying cost and the restocking cost, respectively? (Points : 3) $6,400 and $33,800 $3,200 and $33,800 $6,400 and $7,800 $3,200 and $7,800 None of the above Question 8.8. (TCO 2) Company ABC has expected sales of 75,000 units this year, an ordering cost of $8 per order and carrying costs of $1.20 per unit. What is the EOQ? (Points : 3) 900 units 1000 units 100 units 500 units None of th ...