Free Access AFP.CTP.v2022-03-29.q351 Practice Test (Page 66)

Question 321

Under which of the following circumstances is lengthening the disbursement mail float NOT a benefit to the disbursing company?

A.The lengthened mail float exceeds standard clearing times.

B.Clearing float is reduced only slightly.

C.Vendors view a substantial delay as a late payment.

D.Interest rates are high.

Question 322

Investors typically require a higher yield as compensation for holding securities that have:

A.less marketability.

B.low default risk.

C.shorter maturity.

D.tax exempt status.

Question 323

T-bill discount rate = 5.85% T-bill face value = $100,000 Initial term = 90 days
What is the bond equivalent yield on this T-bill?

A.5.95%

B.6.02%

C.5.87%

D.5.94%

Question 324

MICR encoding errors may be detected by all of the following TMS modules EXCEPT:

A.positive pay module.

B.reverse positive pay module.

C.current day reporting.

D.prior day reporting.

Question 325

Use the financial statement for XYZ Company in the exhibit to answer this question.

What is the cash flow from operating activities for the current year?

A.$(700,000)

B.$900,000

C.$700,000

D.$1,700,000

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