Your Average Customer Is Located 5 Mailing Days Away from Your

question 216

Multiple Choice

Your average customer is located 5 mailing days away from your firm. You have determined that on average it is taking your firm 2 days to process payments received from customers. In addition, it takes 3 days for your funds to be available for use once you have made your bank deposit. What is your firm's collection time?

• A) 1 day
• B) 4 days
• C) 6 days
• D) 7 days
• E) 10 days

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Definitions:

Detailed Components

Specific parts or elements of a product or system that are identified and described with precision, often in technical or engineering contexts.

Crashing

A project management technique used to reduce the time for completing a project by increasing the amount of resources, often leading to increased costs.

CPM Network

Critical Path Method Network, a project management technique used to estimate the duration of a project and identify the most critical tasks that determine its completion time.

Code Of Ethics

A set of principles and guidelines designed to help professionals conduct business honestly and with integrity.