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“Credit management plays an important role in the financial success of any organisation. An important policy decision that Management should make is to consider whether the credit management function in a company should be the responsibility of the finance department or the marketing department or both”
Required:
a. Explain what is meant by credit management.
b. Discuss why cash is considered as a life blood for any business.
c. Discuss three strategies for financing working capital.
d. Critically evaluate the advantages and disadvantages of placing the credit management function in the marketing department.
e. Critically evaluate the advantages and disadvantages of placing the credit management function in the finance department.
f. Based on your answers to (d) and (e) above, explain with justifications as to whether the credit management function should be placed in marketing department or in the finance department or in both departments.
Prepare the budgeted income statement for the first 6 months and all required operating budgets by quarters. Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.
If sales totaled $200,000 for the current year (10,000 units at $20 each) and planned sales totaled $150,000 (12,500 units at $12 each), the effect of the unit price factor on the change in sales is a:
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George Just hit the jackpot in Las Vegas and won $55,000! if he invests it now, at a 12% interest rate, how much will it be worth 15 years from now? Zach would like to have $4,000,000 saved by the time he retires 40 years from now. How much does he n..
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Neon Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit ?$130.00 Variable manufacturing costs per unit ?$62.00 Variable selling and administrative expenses per unit..
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In which situation would a business hire a fraud examiner? An allegation of defamation of character To complete the taxes for a business Search for hidden assets in a divorce case To detemine the cause of inventory shrinkage at a company.
Calculate stock dividend shares and cash dividend amounts Assume that you own 4,000 shares of Blueco, Inc. s, common stock and that you currently receive cash dividends of $0.84 per share per year.
Most of Grinkov's sales are made on a 2-year installment basis. Indicate how these accounts would be reported in Grinkov's December 31, 2010, balance sheet. The 2009 accounts are collectible in 2011, and the 2010 accounts are collectible in 2012.
The following trial balance of ABC Corporation at December 31, has properly adjusted except for the income tax expense adjustment cash 775, Account receivable (net) 2695, The balance in the deferred income tax liability account pertain to a temporary..
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