AICPA CPA-Business Exam Dumps

Question 1

In planning and controlling capital expenditures, the most logical sequence is to begin with:

AAnalyzing capital addition proposals.

BAnalyzing and evaluating all promising alternatives.

CIdentifying capital addition projects and other capital needs.

DDeveloping capital budgets.

Question 2

The following information regarding a change in credit policy was assembled by the Wilson Wax Company. The company has a required rate of return of 10 percent and a variable cost ratio of 60 percent.

The pretax cost of carrying the additional investment in receivables, using a 360-day year, would be:

A$5,760

B$9,600

C$8,160

D$960

Question 3

A change in credit policy has caused an increase in sales, an increase in discounts taken, a reduction in the investment in accounts receivable, and a reduction in the number of doubtful accounts. Based upon this information, we know that:

ANet profit has increased.

BThe average collection period has decreased.

CGross profit has declined.

DThe size of the discount offered has decreased.

Question 4

Clauson Inc. grants credit terms of 1/15, net 30 and projects gross sales for next year of $2,000,000. The credit manager estimates that 40 percent of their customers pay on the discount date, 40 percent on the net due date, and 20 percent pay 15 days after the net due date. Assuming uniform sales and a 360-day year, what is the projected days sales outstanding (rounded to the nearest whole day)?

A20 days.

B24 days.

C27 days.

D30 days.

Question 5

Which of the following represents a firm's average gross receivable balance?

I Days' sales in receivables x accounts receivable turnover.

II Average daily sales x average collection period.

III Net sales average gross receivables.

AI only.

BI and II only.

CII only.

DII and III only.

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