8 . Please fill all the boxed with appropriate words.

_____ is a form of liability that has a fixed rate of return. A firm with negative cash conversion cycle is very efficient because its_____ and accounts receivable is effectively financed by its _____.

Compared to accounting, finance focuses on free cash flows instead of _____ regarding economic returns; on future cashflows instead of historical cost regarding how to value assets; and on _____ value instead of book value regarding how to value equity.

You are now considering starting up a food truck business in Beppu. The expected cost of startup, including purchasing the truck, is estimated to be 4,000,000 yen. If the discounted cashflows over six years, which coincides with the life of the truck, is 1,000,000, 900,000, 800,000, 700,000, 600,000 and 500,000 yen respectively, the net present value of the investment is _____ yen (in units, no 1000 separators).

Your firm is paying the supplier at the end of next month for supplies delivered this month, and suppose the supplier offers you a 1 percent discount if you pay at the end of this month. It would be a good deal if your firm can borrow money from a bank at less than _____% (in units).