Short answer 1-2 sentences

Discuss the 3 general approaches to forecasting. (Experience, Profitability and Correlation)

Talk about the distinction between a cash budget and capital budget. (hint; a cash budget talks about cash in/cash out while a capital budget focuses on major asset purchases. Know that IF you had a debt ratio running about 20%, what would be the best way to fund additional $$ ? -----increase long term debt.

what assets make up current assets and which are the least liquid and why?

when a firm has a low asset turnover ratio? (hint: focus on the fact that the firm may not be managing his assets well or the level of assets may be too high for the volume of sales. Maybe the firm has obsolete items..better management is needed).

Explain the purpose of trend analysis and why do we use industry comparison?