Answer the following questions: (2 Marks) a) At present the Receivable collection management of KMT Company is very weak especially there is a delay in sending invoices to customers. What suggestion do you give to overcome this problem and improve its collection management?

b) To improve its inventory management, XYZ Company would like to classify the inventory items to allocate importance of control to them based on their cost composition. Which inventory technique is useful for XYZ Company in this regard?