23 -ABCs credit terms are 1/7, net 26. Based on experience, 66 percent of all customers take the discount. ABC has annual credit sales of $165,417. What is the average investment in accounts receivable as shown on the balance sheet?

24 -ABC Company writes 254 checks a day for an average amount of $385 each. These checks generally clear the bank in 5 days. In addition, the firm generally receives an average of $175,908 a day in checks that are deposited immediately. Deposited funds are available in 1 days. What is the firm's net float?

25 -

What is the group of underwriters called who share both the risks and the marketing responsibilities for a securities offering?

Choose only one.

Syndicate

Underwriting Cartel

Firm Commitment Group

Dutch Auction Group

Venture Capitalists

26 -

Identify which of the following will increase the operating cycle. Choose only one.

increase in cash cycle

increase in accounts payable turnover ratio

decrease in inventory period

decrease in accounts payable period

decrease in accounts receivable turnover ratio

27 -

Identify a use of cash from below. Choose only one.

decrease in fixed assets

decrease in inventory

increase in long-term debt

decrease in accounts payable

decrease in accounts receivable

28 -

You are given the following quotes:

U.S. dollar/Mexican Peso = 0.0559

U.S. dollar/Singapore Dollar = 0.6858

U.S dollar/Chinese Yuan = 0.1785

• What is the Chinese Yuan/Singapore Dollar cross rate?