47. Sarra is taking over as Chief Marketing Officer at MidWest Graphics. She has pledged to increase sales from their current level of $12,000,000 at a rate of 10% per year until the firm hits sales of $20,000,000 per year. How long will it take Madison to hit the target goal at this rate of increase?

Select one:

a. 7.67 years

b. 5.36 years

c. 1.53 years

d. At that rate, Sarra will never reach the target sales level in her lifetime.

46. Which of the statements below is FALSE?

Select one:

a. The time when a sale is recorded is often different from the time cash is actually received.

b. A key element in a sales forecast is that the timing of the sale and the cash inflow from the sale often happen at different times.

c. We start the process of building a cash forecast with predicting the cash inflow from future sales: a sales forecast.

d. The amount and timing of sales are usually provided by the finance department.

49.

A bond issuing company, TZ Corporation sell its investment securities for $29.50 and has a maturity value of $100 at the end of 25 years, calculate the annual rate of return on the bond?

Select one:

a. 8 percent

b. 7 percent

c. 6 percent

d. 5 percent