Liquidity, Drags and Pulls, and Ratios

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Question

Why does a higher days of payables outstanding usually improve liquidity?

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Answer

The firm keeps cash longer by paying suppliers later.

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Question

How do tight credit markets create a drag on liquidity?

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Answer

They restrict borrowing capacity, reducing available short-term funding.

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Question

Why does an increase in days of inventory on hand worsen liquidity?

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Answer

Cash is locked in inventory longer before sale.

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Question

Why are uncollected receivables considered a drag on liquidity?

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Answer

They delay cash inflows; rising ties up cash longer.

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