Multiple choice 2023 Business Finance

2023 1 How would electronic funds transfer affect the use of float A Increase

1) How would electronic funds transfer affect the use of “float”? 

A) Increase its use somewhat 

B) Decrease its use somewhat 

C) Virtually eliminate its use 

D) Have no effect on its use 


2) Price Corp. is considering selling to a group of new customers and creating new annual sales of $70,000.  5% will be uncollectible.  The collection cost on these accounts is 3.5% of new sales, the cost of producing and selling is 80% of sales and the firm is in the 31% tax bracket.  What is the profit on new sales? 

A) $5,554.50 

B) $9,660.00 

C) $7,245.00 

D) none of the above. 


3) Money market funds are 

A) accounts that allow small investors to participate in buying large-denomination securities. 

B) extremely risky but high-yielding accounts used by large corporations to finance operations. 

C) accounts that allow small investors to buy shares in companies that then buy shares of common stock. 

D) pools of bonds held by large utility companies. 


 4) The three primary policy variables to consider when extending credit include all of the following except 

A) credit standards. 

B) the level of interest rates. 

C) the terms of trade. 

D) collection policy. 


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