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2.03_FI91 H. Marketing Apps Review
Test Description: Part B
Instructions: Answer all questions to get your test result.
1) Which of the following probably is the most important piece of information that a cash flow statement provides:
A
Cost of maintenance
B
Statistics from industry
C
Amount of money expected
D
Beginning of tax year
2) Established businesses base their cash flow estimates on figures obtained from
A
regional competitors.
B
past financial statements.
C
national trade associations.
D
marketing research.
3) A business estimates that its cash flow from sales during the coming season will be higher than for the same period last year, based on last year's financial information and
A
realistic goals.
B
potential costs.
C
future earnings.
D
industry trends.
4) What type of money is recorded in the cash receipts column of a cash flow statement?
A
Credit
B
Collected
C
Cost of goods
D
Expenses
5) Which of the following is one of the components of a business's cash payments:
A
Cost of goods
B
Interest from loans
C
Previous month's balance
D
Total credit sales
6) A business's cash flow statement for one month indicates cash sales of $10,250, credit sales of $3,750, loans received of $525, and fixed expenses of $2,800. Calculate the total cash re-ceipts.
A
$7,975
B
$10,775
C
$13,575
D
$9,985
7) Calculate a business's total cash paid out based on the following information: $6,200 in fixed expenses, $2,950 in variable expenses, $15,500 in cost of goods, and $8,250 in sales.
A
$32,900
B
$26,700
C
$17,400
D
$24,650
8) A business had $8,250 in total cash available at the beginning of the month and paid out $4,125 in cost of goods, $950 in variable expenses, and $2,570 in fixed expenses. What is the ending cash balance?
A
$650
B
$605
C
$565
D
$590
9) A business began the month with a cash balance of $3,400 and had total cash receipts of $5,650 and total cash paid out of $9,350. Calculate the cash flow.
A
-$300
B
$350
C
-$225
D
$175
10) A florist expects monthly cash sales to be $5,300 and interest income to be $200. Total cost of goods will be $1,750, fixed expenses will be $2,150, and variable expenses will be $1,975. Calculate the cash flow.
A
$650
B
-$325
C
-$375
D
$600
11) What do businesses often need to do to continue operating if they experience negative cash flow?
A
Hire employees
B
Borrow funds
C
Eliminate supplies
D
Purchase assets
12) What do many businesses do with the money they have accumulated as a result of periods of positive cash flow?
A
Reinvest in the business
B
Spend all available cash
C
Purchase excess inventory
D
Buy personal items
13) What is the last day of classes before Thanksgiving break?
A
Monday, 11/21
B
Thursday, 11/24
C
Tuesday, 11/22
D
Wednesday, 11/23
14) To stay in business, a firm that has periods of cash shortages and cash surpluses should plan to __________ its cash flow.
A
stop
B
spend
C
monitor
D
invest
15) When a business buys buildings, vehicles, and equipment, money is flowing out of the busi-ness to acquire
A
staples.
B
supplies.
C
products.
D
assets.
*select an answer for all questions
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