If 25% of the Customers Pay on Day 10 and 75

question 50

Multiple Choice

If 25% of the customers pay on day 10 and 75% pay on day 30,the average collection period is:

• A) 15 days.
• B) 20 days.
• C) 25 days.
• D) 30 days.
• E) 40 days.

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Definitions:

Industrial-Organizational Psychologists

Psychologists who apply psychological theories and principles to organizations and the workplace, focusing on individual and group behavior.

Applied Research

Applied research is focused on solving practical problems or developing new technologies, as opposed to theoretical or basic research.

Hindsight Bias

The habit of assuming that one would have foretold the result following the occurrence of an event.

Critical Thinking

The objective analysis and evaluation of an issue to form a judgment, often involving questioning assumptions and identifying biases.