D) Calendar based accounting 31. The disadvantage in holding cash balances is that A) Cannot be used to pay offishore invoices B) C) D) Cannot be easily sccured against theft Can easily be counterfeited Earns no, or low, returns for the business Analysts who make recommendations employee would be most interested in ratios dealing with 32. on credit policies, inventory levels and sales per A) Liquidity B) Financial leverage C) Efficiency D) Profitability 33. A basis of comparison for financial ratios that is determined from an industrial sector, historical data, direct competitors or pro forma statements is called a A) Benchmark B) Comparable C) Financial trend line D) Performance standard 34. Net Present Value is the only method of investment appraisal that A) B) C) D) Considers the time value of money Uses all the relevant cash flows in the analysis Deals with cash outflows exceeding inflows after the start of the project Considers the investment's direct impact on shareholder's wealth 35. What type of investment opportunities are Apple Inc.'s iPod, 4G iPhone, and iPad? A) B) C) D) New product development. Improving existing product sales Reducing costs Replacement of equipment