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Cash Forecasting Exhibit 3.2 Quiz

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Questions and Answers

What is the purpose of the cash forecasting procedure described in the text?

To monitor daily bank reconciliation

To track payroll expenditures

To prepare a periodic cash forecast (correct)

To conduct historical sales analysis

What action is recommended to improve a company's borrowing needs according to the text?

Improving forecast accuracy (correct)

Ignoring cash flow variance

Increasing capital expenditures

Reducing forecast accuracy

What is the first step for the treasury staff when creating a cash forecast?

Clearing all numbers from the forecast model

Locking the most recent completed worksheet

Obtaining payment information from the payables system

Creating a new worksheet within the forecast spreadsheet (correct)

How should the treasury staff label the tab of the new version of the cash forecast?

With the issuance date of the cash forecast Signup and view all the answers

In the text, what information should be entered in the forecast from the payables system?

Timing and amounts of scheduled payables Signup and view all the answers

What should the treasury staff obtain from the financial analyst for the cash forecast?

Information on capital expenditures Signup and view all the answers

Why is it important for a company to obtain estimates of receipt dates for receivables?

To estimate distribution of receipts based on historical data Signup and view all the answers

What action helps companies mitigate their borrowing needs?

Improving forecast accuracy Signup and view all the answers

What information should be cleared from the forecast model in a new worksheet?

All numbers from the forecast model Signup and view all the answers

Which department provides information about scheduled wage and commission payments for the cash forecast?

Payroll manager Signup and view all the answers