QUESTION 12 Which of the following reasons is used to justify share buybacks? a The repurchase reduces the firm's costs associated with servicing small b c d shareholders The repurchase modifies the firm's capital structure. The repurchase narrows ownership All of the above. QUESTION 13 Which of the following are considered to be spontaneous sources of financing (i arise naturally during the course of doing business)? a Accounts receivable and bonds b Notes payable and ordinary shares .e., they Accounts payable and accrued expenses d Fixed assets and inventory QUESTION 14 Which of the following will increase cumulative borrowing in the cash budget? a Slower payments to suppliers b Higher interest rates c Slower collections from customers d Faster collection of receivables QUESTION 15 A decrease in- a equipment b accounts payable c cash