TAKORADI TECHNICAL UNIVERSITY

FACULTY OF BUSINESS STUDIES

DEPARTMENT OF ACCOUNTING AND FINANCE

QUESTIONNAIRE TO KEY STAFF

Introduction

This is an academic research being undertaken by a group of students of TTU on the

topic Working Capital Management in Small and Medium Scale Enterprise . We shall

be grateful if you could respond to the understated questions. All information shall be

treated as confidential. Thank you for your time.

How to complete the questionnaire

Please thick in the box that corresponds to the most appropriate responses in each

question. You may also write your responses in the spaces provided where applicable.

Section A: General information

1) What is the nature of the enterprise?

a. Sole proprietorship [ ]

b. Partnership [ ]

c. Co-operative [ ]

d. Limited liability [ ]

e. Other (please specify)...........................................

2) Where is the enterprise located?

a. Sekondi [ ]

b. Takoradi [ ]

c. Kwesimintsim [ ]
d. Kojokrom [ ]

e. Other (please specify)...............................

3) Age of the respondent (Years)

Please specify...................................................

4) Sex of the respondent

a. Male [ ]

b. Female [ ]

5) Marital status

a. Married [ ]

b. Single [ ]

c. Divorce [ ]

d. Widow [ ]

6) What is your highest level of Education?

a. Primary [ ]

b. Middle school [ ]

c. Secondary [ ]

d. Polytechnic [ ]

e. University [ ]

f. Other (please specify)....................................................

7) What is the current work force of your

enterprise................................................................................

8) Does the business keep financial records of the operations?

a. Yes [ ]
b. No [ ]

9) If yes to question 8, what kind of records are kept?

a. Sales daybook

b. Purchases daybook

c. General Journal

d. Cash Book

10) What is the academic qualification of the personnel who keeps the records?

a. Bsc. Administration (Accounting option)

b. HND Accounting

c. Diploma in Business Studies

11) Does the owner, manager and or account personnel attend workshops or seminars

aimed at improving accounting practices in the business?

a. Yes [ ]

b. No [ ]

12) If yes to question 11, how beneficial has the training been to your enterprise?

...............................................................................................................................

Section B: Liquidity (cash) management

13) How did you finance your business initially?

a. By borrowing from Bank [ ]

b. By borrowing from friends [ ]

c. Self financing [ ]

d. Purchasing on credit [ ]

14) Do you normally get cash target in advance for your business?
a. Yes [ ]

b. No [ ]

15) How do you manage the difference in your required cash where there is shortage?

.........................................................................................................................................

16) Do you write down such estimates of cash requirement as a plan or budgeted

document?

a. Yes[ ] No [ ]

17) How do you control the proceeds generated on a daily basis?

a. Keep it in office cash till

b. Keep it in the bank

c. Spend the proceeds

d. Others specify....................................

18) Do you spend within your budget?

a. Yes [ ]

b. No [ ]

19) Do you normally record all cash transactions?

a. Yes [ ]

b. No [ ]

20) How often do you send money to the bank?

a. Daily [ ]

b. Weekly [ ]

c. Monthly [ ]

d. Other (please specify).................................................

a. In deposit account with Commercial Bank [ ]

b. In treasury security [ ]

c. In long-term deposit (bond etc) [ ]

d. In stock/shares [ ]

e. Other (please specify)..........................................................

Section c: Accounts receivables

22) Do you sometimes sell on credit?

a. Yes [ ]

b. No [ ]

23) If yes to question 22, how many days or period do you give to your customers to

pay

their bills?

a. 7 days [ ]

b. 14 days [ ]

c. 21 days [ ]

d. Other (please specify)...................................................

24) If no to question 22, then give

reasons............................................................................................................................

25) Do you undertake formal credit investigation before granting credit to your

customers?

a. Yes [ ]

b. No [ ]
26) Please read the following statement and check the box that reflect your opinion of the statement

Where 1=Strongly agree, 2=Disagree, 3=Neutral, 4=Agree, 5=Strongly agree

No. 1 2 3 4 5

Are the following procedures adhered to in investigating prospective credit customer?

a Check customers past records from other business firms

c check customers bank reference

27) What evidence exists for a customer‟s indebtedness?

a. Signing of delivery note or other receipts document [ ]

b. Signing of formal IOU document [ ]

c. Other (please Specify)...................................................................

28) Do you give cash discount to your customers?

a. Yes [ ]

b. No [ ]

29) What actions are taken on customers who refuse to pay their

debt?................................................................................................................

30) What action are taken on customers who refuse to pay their

debt?..................................................................................................................

Section D: Management of inventory

31) What are the sources of your raw materials?

a. Local [ ]

b. Foreign [ ]
c. Both [ ]

32) Do you often experience a large pile-up of raw materials?

a. Yes [ ]

b. No [ ]

33) Do you keep records of your goods or materials?

a. Yes [ ]

b. No [ ]

34) Do you do regular stock taken?

a. Yes [ ]

b. No [ ]

35) If yes in question 34, how often do you do it?

a. Daily [ ]

b. Monthly [ ]

c. Yearly [ ]

d. Other (please specify).............................................................................

36) Do you have a re-order level policy for requesting stock or materials?

a. yes [ ]

b. no [ ]

Section E: Current liabilities

37) Do you sometimes purchase goods on credit?

a. Yes [ ]

b. No [ ]
38) If yes to question 37 above, how many days or period are you given by your

creditors

to settle the bills?

a. 7 days [ ]

b. 14 days [ ]

c. 21 days [ ]

d. Other (please specify)......................................................................

39) If no to question 38 above, how does that affect your operation?

....................................................................................................................

40) Do you negotiate with your creditors to extend the credit period?

a. Yes [ ]

b. No [ ]

41) Do you use short-term funds of the business for long-term investment?

a. Yes [ ]

b. No [ ]

42) Which of the following four components of working capital do you give

preference?

a. Cash

b. Debtors

c. Stock

d. Creditors

43) From your own experience, would you advice business owners to place premium

in any particular one or you think they are of equal importance or value?
.....................................................................................