Each functional area is, in some way, involved in the generation or consumption of cash

Information pertaining to Yekstop Corp.'s sales revenue is presented below:

November December JanuaryCash sales$96,000 $125,000 $78,000 Credit sales 288,000 450,000 234,000 Total sales$384,000 $575,000 $312,000 Management estimates that 4% of credit sales are eventually uncollectible. Of the collectible credit sales, 65% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an inventory equal to 75% of the sales projected for the month. All purchases of inventory are on open account; 30% will be paid in the month of purchase, and the remainder paid in the month following the month of purchase. Purchase costs are approximately 60% of the selling prices.Total budgeted inventory purchases in November by Yekstop Corp. are:

Nicole plans to take out a $200,000 mortgage for a vacation home. Her bank, however, requires her to provide some type of collateral for the loan. If Nicole owns a $500,000 whole life insurance policy, the policy

A) will not have enough cash value to be used as collateral for the loan B) may be used as collateral for the loan C) may not be used as collateral for the loan D) may not be used as collateral for the loan because it cannot be attached by creditors"