Your fiRm Generally Receives Only 2 Checks a Month

question 78

Multiple Choice

Your firm generally receives only 2 checks a month. The check amounts and the collection delay for each check are shown below. Given this information, what is the amount of the average daily float?
Assume that a month has 30 days.

• A) $533.33
• B) $833.33
• C) $1,333.33
• D) $2,666.67
• E) $4,000.00

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Definitions:

Personal Territories

Areas or spaces that individuals consider their own, marking them off from others to maintain privacy and control.

Group Territory

The physical or conceptual space that a group identifies as its own, often defending it against outsiders.

Decreasing Communication

A reduction in the frequency, quality, or effectiveness of interactions and information exchange between individuals or groups.

Overstaffing

The condition where there are more employees than necessary to perform a job efficiently, often leading to reduced productivity and increased costs.