Your Firm Generally Receives 3 Cheques a Month

question 213

Multiple Choice

Your firm generally receives 3 cheques a month. A month is defined as a 30-day period. The cheque amounts and the collection delay for each cheque are shown below. Given this information, what is the amount of the average daily float?

• A) $1,740
• B) $1,850
• C) $1,900
• D) $1,950
• E) $1,970

---

Definitions:

Diarrhea

A condition characterized by the frequent passing of loose or watery stools, often a symptom of infection or digestive issues.

Malaria

A life-threatening disease transmitted by mosquitoes carrying the Plasmodium parasite, characterized by fever, chills, and flu-like symptoms.

In-utero Exposure

Refers to the exposure of a fetus to substances, conditions, or influences while inside the womb.

Learned Preference

Preferences or tastes acquired through exposure, experience, or conditioning rather than innate inclination.