QUESTION 2 (20 MARKS) Desai Inc. has the following data, in thousands. Assuming a 365-day year, calculate the firm's cash conversion cycle a) Annual sales Annual cost of goods sold Inventory Accounts receivable- Accounts payable RM45,000 RM30,000 RM4,500 RM1,800 RM2,500 (6 marks) Discuss the FOUR (4) elements of a firm's credit policy. To what extent can firms set their own credit policies as opposed to accepting policies that are dictated by its b) competitors? (8 marks) c) Briefly explain THREE (3) current operating asset financing policy (6 marks) (20 MARKS) Define financial markets and discuss its functions and how would an economy be (12 marks) QUESTION 3 a) worse off without them? b) What are money markets? List FIVE (5) types of money market. (8 marks)