KJ Enterprises Estimates That It Takes, on Average, Three Days

question 68

Multiple Choice

KJ Enterprises estimates that it takes, on average, three days for their customers' payments to reach them, one day for the payments to be processed and deposited by their bookkeeping department, and two more days for the checks to clear once they're deposited. What is their collection float?

• A) one day
• B) two days
• C) three days
• D) six days

---

Definitions:

Union Representative

A union representative is an individual elected or appointed to represent the interests of union members in discussions and negotiations with employers.

Annual Wage Increase

A periodic, typically yearly, rise in the base salary or wages of an employee.

Non-Union Business

An organization or industry that does not have its employees represented by a labor union.

Wrongful Dismissal

The termination of an employee's contract of employment without just cause or in violation of the contract's terms.