A company's accounts receivable balance pattern is shown in the first table. Credit sales are shown in the second table.

What is the cash inflow for the month of August?

• A.$238
• B.$213
• C.$633
• D.$300

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Which of the following are primary objectives of cash forecasting?
I. Managing liquidity II. Optimizing float
III. Enhancing financial control
IV.
Minimizing borrowing costs

• A.II and III only
• B.I, III, and IV only
• C.I and II only
• D.I, II, III, and IV

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Under Section 404 of the Sarbanes-Oxley Act, management must state its responsibility for which of the following?

• A.Establishment and maintenance of adequate internal controls for financial reporting
• B.Knowledge of the penalties for noncompliance
• C.Accuracy and completeness of financial statements
• D.Selection of auditors who are knowledgeable about Sarbanes-Oxley requirements

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Under the strict cash basis of accounting, revenue is recorded when:

• A.the funds are received.
• B.the funds are disbursed.
• C.purchase orders are confirmed.
• D.sales agreements are finalized.

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The Cash Manager of ABC Logistics, Inc. sets a daily cash position by noon. All departments have been given an 11 a.m. cut-off for presenting wire requests and 2 p.m. for ACH requests. A wire request came in at 3:30 p.m. to make an insurance premium payment, in order to receive a discount. What liquidity reserve requirement is impacted?

• A.Transaction
• B.Precautionary
• C.Regulatory
• D.Opportunistic

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