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Finance (Baumgarten)
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The difference between a firm's operating cycle and its cash cycle is:
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The cash conversion cycle (CCC) is defined as:
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Consider the following information for the question(s) below.Hammond Motors had sales of $35 million in 2020 with a cost of goods sold of $20 million. A simplified balance sheet for Hammond appears below (amounts in $ million):
Hammond's cash conversion cycle in 2020 is closest to:
| Assets | | | Liabilities and Equity | |
| Cash | 1.6 | | Accounts Payable | 1.8 |
| Accounts Receivable | 4.2 | | Notes Payable | 3.2 |
| Inventory | 3 | | Accruals | 1.5 |
| Current Assets | 8.8 | | Total Current Liabilities | 6.5 |
| | | | Long-term Debt | 4 |
| Net Property, Plant and Equipment | 8.2 | | Total Liabilities | 10.5 |
| | | Stockholders' Equity | 6.5 | |
| Total Assets | 17 | | Total Liabilities and Stockholders' Equity | 17 |
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By evaluating cost and benefits using competitive market prices, we can determine whether a decision will make the firm and its investors wealthier. This central concept is called:
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Use the information for the question(s) below.
As an oil refiner, you are able to produce $76 worth of unleaded gasoline from one barrel of Alaska North Slope (ANS) crude oil. Because of its lower sulfur content, you can produce $77 worth of unleaded gasoline from one barrel of West Texas Intermediate (WTI) crude.Another oil refiner is offering to trade you 10,150 Bbls of Alaska North Slope (ANS) crude oil for 10,000 Bbls of West Texas Intermediate (WTI) crude oil. Assuming you currently have 10,000 Bbls of WTI crude, the added benefit (cost) to you if you take the trade is closest to:
| Alaska North Slope Crude Oil (ANS) | $71.75/Bbl |
| West Texas Intermediate Crude Oil (WTI) | $73.06/Bbl |
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Which of the following statements regarding the valuing of costs and benefits is NOT correct?
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Due to a pre-existing contract, Recycle America Inc. has the opportunity to acquire 10,000 pounds of scrap aluminum and 2500 pounds of scrap lead for $10,750. If the current market price for scrap aluminum is $0.83 per pound and the current market price for lead is $1.06 per pound, then the added benefit (cost) to you if you acquire this metal is:
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You overhear your manager saying that she plans to book an Ocean-view room on her upcoming trip to Miami for a meeting. You know that the interior rooms are much less expensive and that your manager is traveling at the Company's expense. This use of additional funds comes about as a result of:
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The most senior financial manager in a corporation is usually called:
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The person charged with running the corporation by instituting the rules and policies set by the board of directors is called:
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