A firm has a cash conversion cycle of 60 days. Annual outlays are $12 million and the cost of financing is 12 percent. If the firm reduces its average age of inventory by 10 days, the annual savings is ________. (Assume a 365-day year.)

The amount of accumulated depreciation for the budgeted balance sheet can be obtained from the ________

A) cash budget B) selling and administrative expense budget and the prior balance sheet C) cash payments for selling and administrative expense budget D) financial budget

Marketers are primarily striving to generate customer ________ when they use a teaser advertisement created to give prospective customers just enough information about a new product to make them curious

A) confirmation B) interest C) evaluation D) adoption E) impulse purchasing