Free Access AFP.CTP.v2022-03-29.q351 Practice Test (Page 68)

Question 331

A U.S. company wants to increase its cash turnover rate. It is finding that customers are not taking the offered discount terms of 3/15, net 35. What action might the company take in order to achieve its goal?

A.Factor the accounts receivable.

B.Obtain short-term financing.

C.Change inventory accounting from FIFO to LIFO.

D.Increase the days' sales outstanding.

Question 332

In order to be defined as independent, a corporate director:

A.cannot have owned preferred stock shares in the company.

B.cannot have a material relationship with the company.

C.cannot have been an employee with the company during the past three years.

D.cannot meet regularly with executive management outside of board meetings.

Question 333

Which of the following is the appropriate strategy to use for an active portfolio manager who is faced with an upward sloping yield curve?

A.Purchase a security and hold to maturity

B.Purchase a security and sell before maturity

C.Purchase a security maturing when the funds are needed

D.Purchase a security maturing before the funds are needed

Question 334

ABC Corporation receives images of paid check exception items from its bank and reviews them daily. What action should be taken on an item where the payee on the image does NOT match the data from ABC Corporation's accounts payable?

A.ABC Company utilizes the holder in due course defense.

B.No-pay decision is communicated to the bank.

C.Image remains stored on ABC Corporation's network for future customer inquiries.

D.Bank alerts payee that check is unmatched.

Question 335

Which of the following types of risk would an investor who does NOT receive payments on a security under the original terms be subject to?

A.Credit

B.Foreign exchange

C.Asset liquidity

D.Price

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