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:

Cultural Competence

The ability of individuals and organizations to effectively interact with people of different cultures, ensuring respectful and successful communication and interactions.

Biases and Attitude

Refers to preconceived notions, perceptions, and predispositions that affect one's behavior and perspective towards others or certain situations.

ETHNIC Mnemonic

A tool used by healthcare professionals to remember and address communication barriers, including Explanation, Treatment, Healers, Negotiate, Intervention, and Collaboration.

Cultural Assessment

Systematic and comprehensive examination of the cultural care values, beliefs, and practices of individuals, families, and communities.