14 May WHAT WOULD A COMPLETE FINANCIAL PLAN INCLUDE AT A MINIMUM?
What would a complete financial plan include at a minimum?
a.
pro forma financial statements
b.
contingency plans
c.
budgets
d.
forecasts about the future and beliefs about how the world works
(these are often called assumptions)
e.
A and B
f.
A and C
g.
A and D
h.
B and C
i.
B and D
j.
C and D
k.
all but A
l.
all but B
m.
all but C
n.
all but D
o.
all are true
2. What is the difference between bottom-up and Top-down planning?
a.
bottom-up planning starts with employees in senior management and proceeds
throughout the organization
b.
bottom-up planning starts with employees in production and proceeds throughout the
organization
c.
top-down planning starts with employees in senior management and proceeds
throughout the organization
d.
top-down planning starts with employees in production and proceeds throughout the
organization
e.
A and B
f.
A and C
g.
A and D
h.
B and C
i.
B and D
j.
C and D
k.
all but A
l.
all but B
m.
all but C
n.
all but D
o.
all are true
3. Assume you are working for a business and one of your colleagues is whining that the business is
wasting resources on its financial planning. Because this person is your friend, outline for him
some of the major benefits of the financial planning process that, hopefully, justify its cost.
a.
standardizes forecasts about the future and beliefs about how the world works
b.
helps to maintain
objectivity
c.
helps prepare for
contingencies
d.
helps to develop employees
e.
A and B
f.
A and C
g.
A and D
h.
B and C
i.
B and D
j.
C and D
k.
all but A
l.
all but B
m.
all but C
n.
all but D
o.
all are true
4. Indicate whether each of the following would typically increase or decrease a firms need for
additional external financing.
a. An increase in cash dividends?
b. An increase in the net profit margins?
c. A decrease in the credit period offered by a firms supplier?
d. A decrease in the credit period offered to a firms customers?
e. An increase in corporate income tax rates?
5. A rapidly growing firm does not have access to sufficient external financing to accommodate its
planned growth. What alternatives does it have to avoid running out of cash?
a.
reduce its growth rate
b.
sell assets
c.
expand production capacity to increase profit
d.
reduce or suspend it cash dividends
e.
A and B
f.
A and C
g.
A and D
h.
B and C
i.
B and D
j.
C and D
k.
all but A
l.
all but B
m.
all but C
n.
all but D
o.
all are true
7. What alternatives do profitable growth firms have when internal funds are insufficient to finance
expansion?
a.
reduce its growth rate
b.
sell assets
c.
borrow
d.
raise additional equity financing
e.
A and B
f.
A and C
g.
A and D
h.
B and C
i.
B and D
j.
C and D
k.
all but A
l.
all but B
m.
all but C
n.
all but D
o.
all are true
8. (cash Budgeting) At the beginning of January, South Carolina sportsplex has $150,000.00 of cash
on hand. The firms forecast of cash flows for the first 6 months of the year are given here (in
$1,000’s). The SC sportsplex wants to maintain a cash balance of at least $100,000.00 at all
times. If the balance falls below that level, the firm will borrow to bring its balance back up to
$100,000.00. If more than the $100,000.00 is available it will use the excess to pay off short term
borrowing.
Show the monthly net cash flow, Borrowing (if any), loan repayments, cash balance, and Cumulative
borrowing balance.
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