21 The conservative approach to working capital financing occurs when the firms uses long term capital to finance all permanent assets and some temporary assets. wered Select one: tot 1.00 a False a O b. True 22 If a firm uses an aggressive financial strategy. wered tot 1.00 Select one o a. it reduces return and increases risk b. it increases return and increases risk c. it increases return and reduces risk d. it reduces return and reduces risk 23 Which of the following affects the precautionary motive for holding cash? wered tof 1.00 Select one a. none of the above b. the cash flow predictability O c. A and B o d. the firm's access to external funds 24 To determine the average cash conversion cycle, we must first compute the average production cycle, the average collection cycle, and the average payment cycle wered tot 1.00 Select one O a. True O b. False