Your Firm Generally Receives 5 Cheques a Month

question 364

Multiple Choice

Your firm generally receives 5 cheques a month. The cheque amounts and the collection delay for each cheque is shown below. Given this information what is the amount of the average daily float? Assume a 30-day month.

• A) $2,108
• B) $3,143
• C) $7,254
• D) $13,720
• E) $18,860

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Definitions:

Testosterone

The most important of the male sex hormones. Both males and females have it, but the additional testosterone in males stimulates the growth of the male sex organs in the fetus and the development of the male sex characteristics during puberty.

Assertive

Characterized by confidence and self-assurance in expressing opinions, desires, or boundaries without being aggressive.

Empathic

Having the ability to understand and share the feelings of another from their perspective.

Social Position

Social position, also known as social status, is an individual's rank or role within a society or social group based on factors like wealth, occupation, and education.