Do you agree with Maggie Brown's policy of paying suppliers early to take advantage of their early-payment discount?

	A.	No, because a 2% discount is a trivial amount.
	B.	Yes, because if cash is short Horniman can get a line of credit at the bank.
	C.	No, because Horniman's "Payable days" metric is much lower than the benchmark for the industry.
	D.	Yes, because the annual savings from the discount more than justifies the use of cash for this purpose.

4) On the basis of the financial ratios and benchmarking information in Exhibit 8.2, Horniman's cash conversion cycle in 2015 was:

	A.	Irrelevant to their problems.
	B.	Much longer than the benchmark cash conversion cycle.
	C.	Much shorter than the benchmark cash conversion cycle.
	D.	About the same as the benchmark cash conversion cycle.