CM Enterprises Estimates That It Takes, on Average, Seven Days

question 77

Multiple Choice

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

• A) 11 days
• B) 10 days
• C) 8 days
• D) 7 days

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Definitions:

Developmental Level

A stage or phase in the growth or advancement of an individual, characterized by specific milestones in physical, emotional, or intellectual capacity.

Aggressive Tendencies

Traits or behavioral patterns characterized by anger or hostility that may lead to aggression towards others.

Macrosystem

The basic institutions and ideologies that influence the child.

Cultural Settings

The environment and context, including traditions, values, norms, and social practices, in which a person lives and is raised.