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to keep it from being stolen.

21. Other things held constant

which of the following would tend to reduce the cash conversion cycle?


Place larger orders for raw materials to take advantage of price breaks.       

Take all discounts that are offered.

Continue to take all discounts that are offered and pay on the net date.

Offer longer payment terms to customers.

Carry a constant amount of receivables as sales decline.

22. A lockbox plan is most beneficial to firms that


have widely dispersed manufacturing facilities.

have a large marketable securities portfolio and cash to protect.

receive payments in the form of currency

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