Which of the following practices contributes to efficientcash management? a. Never borrow money—maintain a cash balance suffi-cient to make all necessary payments. b. Record all cash receipts and cash payments at the endof the month when reconciling the bank statements.c. Prepare monthly forecasts of planned cash receipts,payments, and anticipated cash balances up to a year inadvance.d. Pay each bill as soon as the invoice arrives.
Which of the following practices contributes to efficientcash management? a. Never borrow money—maintain a cash balance suffi-cient to make all necessary payments. b. Record all cash receipts and cash payments at the endof the month when reconciling the bank statements.c. Prepare monthly forecasts of planned cash receipts,payments, and anticipated cash balances up to a year inadvance.d. Pay each bill as soon as the invoice arrives.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following practices contributes to efficient
cash management?
a. Never borrow money—maintain a cash balance suffi-
cient to make all necessary payments.
b. Record all cash receipts and cash payments at the end
of the month when reconciling the bank statements.
c. Prepare monthly
payments, and anticipated cash balances up to a year in
advance.
d. Pay each bill as soon as the invoice arrives.
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