问题：Mondax Inc is a multinational company operating in a number of different industrial sectors. Which of the following is an argument in favour of Mondax centralising its treasury function?
A. Better short-term investment opportunities.
B. Speed of response to changing cash positions in the different operating areas.
C. Foreign exchange risk totally eliminated.
D. Diversification of sources of finance.
答案：The correct answer is: Better short-term investment opportunities.
解析：Short-term investment opportunities will be improved with centralisation because there will be larger volumes of cash available for investment.
The speed of response to local situations is likely to be slower with a centralised treasury function, since it will take time for information to be received and assimilated by the central department.
If finance is raised locally, Mondax will have access to a wider variety of sources of funds than if it were to arrange all financing centrally.
Foreign exchange risk will still exist, but centralised treasury will be able to undertake more sophisticated hedging arrangements to minimise the risk of losses on exchange.
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