Question

Which of the following goals or objectives are related to financial improvement and business operations?

A) Reduce outstanding accounts receivable by 20%.
B) Increase new customer acquisitions by 500 by the end of the second quarter.
C) Implement 4 employee training classes in the first quarter of the fiscal year.
D) Reduce direct materials cost by 25%.
E) Increase interest revenue earned on excess cash balances by 15% over the previous year.
F) Hold one customer appreciation event each quarter in the next fiscal year.
G) Reduce assembly line equipment downtime by 10% versus last year.
H) Reduce the average time to fill open positions by 30 days.

Answer 1

The goals or objectives related to financial improvement and business operations include reducing outstanding accounts receivable, reducing direct materials cost, increasing interest revenue earned on excess cash, reducing assembly line equipment downtime, and reducing the average time to fill open positions.

Step-by-step explanation:

The goals or objectives related to financial improvement and business operations are:

1. Reduce outstanding accounts receivable by 20%: This goal focuses on improving the collection of money owed to the business, which can contribute to financial stability and cash flow.
2. Reduce direct materials cost by 25%: This goal aims to decrease expenses associated with raw materials, which can increase profitability and efficiency.
3. Increase interest revenue earned on excess cash balances by 15% over the previous year: This goal focuses on maximizing the returns on idle cash, which can contribute to financial growth.
4. Reduce assembly line equipment downtime by 10% versus last year: This goal aims to enhance operational efficiency and productivity by minimizing equipment-related delays.
5. Reduce the average time to fill open positions by 30 days: This goal focuses on streamlining the recruitment process, which can optimize workforce productivity and decrease hiring costs.