31. The XYZ Company has annual average purchases of $200,000 and an ending accounts payable balance of $36,000. How long, on average, does XYZ take to pay for its purchases? 11.11 days 22.22 days 28.78 days 32.85 days 65.70 days 32. A gas station is likely to receive ________ term credit for gasoline purchases; a grocery store is likely to receive _________ term credit for vegetables purchases; and a manufacturer is likely to receive _________ term credit for purchase of plant and equipment. Short, short, short Long, long, long Long, long, short Short, short, long Short, long, long 33. Knowledge of the regulatory system, and changes to it, is important to the cash manage because: banking fees are only determined by federal banking regulations inefficiencies introduced by the regulatory system enable the cash manager to create value the regulatory environment has a strong influence on the credit line rates charged by banks it helps them to better forecast interest rates 34. The bank of first deposit will select the clearing mechanism to use based on all of the following except: the dollar amount of the check the location of the draw ban the desires of the party that wrote the check the availability schedule the bank would be granted for each clearing alternative 35. Interstate banking on an unlimited scale would make short-term financial management less costly and more efficient obsolete more costly less efficient and more dependent on computers