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NEW QUESTION 395
Which agency appoints the chairman and members of the Public Company Accounting Oversight Board?
- A. SEC
- B. OCC
- C. NYSE
- D. IRS
Answer: A
NEW QUESTION 396
USA Tires, LLC is a U.S. company that manufactures a high performance tire. It has $500 million in annual domestic sales. Customer A is located 50 miles from the USA Tires warehouse. Customer A orders 1,000 high performance tires per month at a price of $50 per tire. It has credit terms of 30 days. Customer B is located 40 miles from the USA Tires warehouse. Customer B orders 1,000 high performance tires per month at a price of $60 per tire. Customer B has credit terms of 20 days. Which legislation is being violated in the scenario?
- A. Glass-Steagall Act (1933)
- B. Robinson-Patman Act (1936)
- C. Fair Credit Billing Act (1975)
- D. Fair Debt Collection Practices Act (1978)
Answer: B
NEW QUESTION 397
Which of the following is MOST LIKELY to have a significant impact on the financial condition of an organization?
- A. Defined contribution pension plans
- B. Tax-deferred annuities
- C. Defined benefit pension plans
- D. 401(k) plans
Answer: C
NEW QUESTION 398
A cash manager is responsible for a small subsidiary that has significant funds but only writes one check per month. Which of the following types of accounts would the cash manager use for this subsidiary?
- A. Demand deposit
- B. Savings
- C. NOW
- D. Money Market Deposit Account
Answer: D
NEW QUESTION 399
A foreign company could raise capital in the United States using an:
- A. AVS.
- B. AR
- C. ASP.
- D. ADR.
Answer: D
NEW QUESTION 400
A disclaimer opinion is required on a set of financial statements when:
- A. the auditor is not independent.
- B. material deviations from GAAP occur.
- C. the financial statements are fairly stated.
- D. the financial statements may be misleading.
Answer: A
NEW QUESTION 401
A company has asked its marketing, payroll and sales teams to collaborate in finding a solution that could augment its customer base, reduce payroll cost and increase sales. The solution has to be market ready. Which of the following will serve all 3 purposes?
- A. Smart cards
- B. PIN based cards
- C. Stored value card
- D. Ghost cards
Answer: C
NEW QUESTION 402
The owner of XYZ Company just completed an initial public offering. Which of the following is the MOST LIKELY outcome?
- A. The company will save on accounting costs.
- B. The owner will be able to diversify his personal portfolio.
- C. The company will increase productivity.
- D. The owner will gain more operational control.
Answer: B
NEW QUESTION 403
Company ABC experienced a loss in the past when an employee in the treasury department was able to transfer $1.5 million to a personal account offshore. The company is working with a security agent to prevent this from happening in the future. ABC also accepts a large number of checks as payment. The agent has suggested upgrades to ABC's payment process. What step should be taken to help mitigate this type of risk in the future?
- A. Securely store check stock.
- B. Implement data security standards.
- C. Set up international bank security.
- D. Implement dual approval.
Answer: D
NEW QUESTION 404
Treasury uses all of the following types of internal information EXCEPT:
- A. projected weekly sales.
- B. security safekeeping activity.
- C. debt repayment schedule.
- D. large outstanding collection items.
Answer: B
NEW QUESTION 405
ABC Ltd. uses a third party lockbox provider to collect and clear its paper receivables. A customer disputes the price charged for a binding machine and issues a check to ABC Ltd. for 50% of the balance due, noting "paid in full" on the face of the check. The third party provider does not bring the check to ABC's attention prior to depositing it. Which regulation allows ABC to attempt to collect the remaining balance?
- A. Federal Reserve Regulation CC
- B. UCC Article 4 - Bank Deposits and Collections
- C. UCC Article 2 - Clearing of Checks
- D. UCC Article 3 - Negotiable Instruments
Answer: D
NEW QUESTION 406
What document serves as the basic account or service authorization, empowering a representative of a business to enter into agreements for financial services?
- A. Credit agreement
- B. Service agreement
- C. Signature card
- D. Account resolution
Answer: D
NEW QUESTION 407
Which of the following is a characteristic of giro systems used in countries in Europe?
- A. They operate through their postal systems.
- B. They do not replace checks for the payment of bills.
- C. They are primarily used for company-to-company payments.
- D. They do not allow the use of direct debits and credits.
Answer: A
NEW QUESTION 408
U.S.
dollar-denominated instruments issued by foreign banks through their domestic branches are known as:
- A. Eurodollar CDs.
- B. banker's acceptances.
- C. Eurocommercial paper.
- D. Yankee CDs.
Answer: A
NEW QUESTION 409
A U.S. government agency issues securities transfers using Fedwire Book-Entry Securities System. The first transfer request of the day in the amount of $1 million is sent at 1:00 p.m. EST, the second one for $2 million at 3:30 p.m. EST, the third one for $3 million at 4:30
p.m.
EST and the fourth one for $4 million at 5:00 p.m. EST, all on the same day. Which of the following represents the total value transferred at 5:00 p.m. EST that day?
- A. $6 million
- B. $3 million
- C. $1 million
- D. $10 million
Answer: C
NEW QUESTION 410
Which of the following ACH formats is commonly used for consumer payments such as deposits of payroll?
- A. TXP
- B. PPD
- C. CTX
- D. CCD
Answer: B
NEW QUESTION 411
An auto manufacturer experienced a decline in sales, an increase in inventory, and an increase in labor costs over the past two months. With all else being equal, what is the MOST LIKELY impact to the company's balance sheet?
- A. An increase in long-term liabilities
- B. A decrease in long-term liabilities
- C. A decrease in short-term liabilities
- D. An increase in short-term liabilities
Answer: D
NEW QUESTION 412
A company may choose to use a derivative to reduce risk on which of the following types of exposure?
I) Currency
II) Interest rate
III) Commodity price
- A. I and III only
- B. I and II only
- C. I, II, and III
- D. II and III only
Answer: C
NEW QUESTION 413
QRT Corporation uses exponential smoothing in its cash flow forecasting model. Five days are used to calculate the moving average forecast.
If the value of the smoothing constant is .60, what is the exponential smoothing forecast for day 7?
- A. $2,052,000
- B. $2,060,000
- C. $2,000,000
- D. $2,400,000
Answer: A
NEW QUESTION 414
In evaluating alternative capital investments, a company should consider qualitative factors such as:
- A. estimated costs.
- B. projected cash flows.
- C. corporate strategy.
- D. estimated economic returns.
Answer: C
NEW QUESTION 415
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