Determine whether each policy below is good or bad cash management; then identify the cash management strategyviolated or followed for each policy.

1. Bills are paid as soon as they are received.

2. Cash receipts and cash payments are regularly planned and reviewed.

3. Excess cash is put in checking accounts, earning no interest income.

4. Customers are regularly allowed to pay after due dates without concern.

5. Rarely used equipment is rented rather than purchased.