Currently, Your fiRm Requires 3 Days to Process the Checks

question 84

Multiple Choice

Currently, your firm requires 3 days to process the checks which customers mail in to pay for their credit purchases. The average mail time associated with these payments is 5 days and the check
Clearing time is 2.5 days. If your firm adopts a lockbox system, the mail time will be cut in half. In
Addition, if employees are reassigned, checks could be processed in 2 days. How long will your
Collection time be if both the lockbox system and the job reassignments are implemented?

• A) 6.0 days
• B) 6.5 days
• C) 7.0 days
• D) 7.5 days
• E) 9.5 days

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Definitions:

Unwanted Discrimination

The unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or gender, that is not desired or solicited.

Executive Exemption

A classification in labor law that exempts certain executives from overtime pay and minimum wage requirements.

Age Discrimination

The unfair treatment of individuals in the workplace based on their age, prohibited under various labor laws.

ADEA

The Age Discrimination in Employment Act (ADEA) is a federal law that aims to protect employees and job applicants 40 years of age and older from age-based discrimination in the workplace.