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Two questions related to the cash conversion cycle, if I may: 1 . Should a company already have in place a financial plan, ie .

Two questions related to the cash conversion cycle, if I may: $1 .$ Should a company already have in place a financial plan, ie $.$ budget and should management be expected to follow that plan even during recessionary periods? $2 .$ How would changes to credit terms a company offers to customers as well as collection efforts impact the cash conversion cycle?

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