Currently, Your Firm Requires 3 Days to Process the Cheques

question 340

Multiple Choice

Currently, your firm requires 3 days to process the cheques received from customers. The average mail time associated with these payments is 4 days and the cheque clearing time is 1 day. If your firm adopts a lockbox system, the mail time will be cut in half. In addition, if employees are reassigned, cheques could be processed in 1 day. How long will your collection time be if both the lockbox system and the job reassignments are implemented?

• A) 2.5 days
• B) 3.0 days
• C) 4.0 days
• D) 5.5 days
• E) 7.0 days

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Definitions:

Political Groups

Organizations or collectives that seek to influence public policy, political opinion, or government decisions based on specific ideological, economic, or social beliefs.

Intellectual Elite

A segment of society composed of individuals with high intellectual achievements and capacities, often involved in complex decision-making or high-level reasoning tasks.

Manual Workers

Laborers who perform physical work with their hands, often in construction, manufacturing, or agriculture.

Petty Bourgeoisie

In Marx’s usage, is the class of small-scale capitalists who own means of production but employ only a few workers or none at all, forcing them to do physical work themselves.