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I need some assistance with the attached questions regarding my financial accounting studies.

James Corp is worried about managing cash efficiently. On the average, inventories have an age of 90 days, and accounts receivable are collected in 60 days. Accounts payable are paid approximately 30 days after they arise. The firm has annual sales of about $30 million. Assume there is no difference in the investment per dollar of sales in inventory, receivables, and payables; and, a 365-day year.

a. Calculate the firm's operating cycle.
b. Calculate the firm's cash conversion cycle.
c. Calculate the amount of resources needed to support the firm's cash conversion cycle.
d. Discuss how management might be able to reduce the cash conversion cycle (be brief).

Cash conversion cycle

Answer the following "true or false" questions :

1. Because firms are unable to match cash inflows to outflows with certainty, most of them need current liabilities that more than cover outflows for current assets.
2. As the ratio of current assets to total assets increases, the firm's risk increases.
3. Business risk is the risk of being unable to make the scheduled fixed financing payments on debt and preferred stock.
4. Net working capital can be defined as the portion of the firm's current assets financed with long-term funds.
5. The cash conversion cycle is the total number of days in the operating cycle less the average payment period for inputs to production.
6. A negative cash conversion cycle (CCC) means the average payment period (APP) exceeds the operating cycle (OC).
7. The ability to purchase production inputs on credit allows the firm to partially (or may be even totally) offset the length of time resources are tied up in the operating cycle.
8. The cash conversion cycle is the difference between the number of days resources are tied up in the operating cycle and the average number of days the firm can delay making payment on the production inputs purchased on credit.
9. When a firm's cash conversion cycle is negative, the firm should benefit by being able to use the financing provided by the suppliers of its production inputs to help support aspects of the business other than just the operating cycle.

10. The aggressive financing strategy is risky due to its minimum level of net working capital, high dependency on short-term sources of funds, and the changing short-term interest.
11. The conservative strategy is less profitable than the aggressive approach because it requires the firm to pay interest on unneeded funds.
12. In the EOQ model, the total cost is minimized at the point where the order costs and carrying costs are equal.
13. In the ABC system of inventory management, the red-line method or system could be utilized to control C items.
14. In the EOQ model, if carrying costs increase while all other costs remain unchanged, the number of orders placed would be expected to increase.
15. If the level of bad debt attributable to credit policy is relatively constant, increasing collection expenditures can be expected to reduce bad debts.
16. If the cash discount period is increased, the firm's investment in accounts receivable due to discount takers still getting cash discounts but paying later is expected to increase.
17. Increased collection expenditures should reduce the investment in accounts receivable and bad debt expenses, increasing profits.
18. Assuming that the firm has done all it can to stimulate customers to pay promptly and to select vendors offering the most attractive and flexible credit terms, it can further speed collections and slow disbursements by taking advantage of the "float" existing in the collection and payment systems.
19. A lockbox system is used to reduce collection float by shortening all three basic float components (i.e., mail, processing, and clearing).
20. Federal agency issues are low-risk securities issued by government agencies but not guaranteed by the U.S. Treasury.

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