1) What is receivables float?

2) What is payables float?

3) Name three ways to shorten the receivables cycle.

4) Give one example of receivables fraud.

5) Name at least two different types of inventory valuation methods. Discuss the advantages and disadvantages of each method.

6) A controller must consider many factors to assist in the determination of capital asset expenditures. Why is this planning important? Name two different accounting methods that might be used in the valuation of the expenditure. Discuss the advantages and disadvantages of both methods.