You Are Considering Implementing a Lockbox System for Your Firm

question 42

Multiple Choice

You are considering implementing a lockbox system for your firm.The system is expected to reduce the average collection time by 1.3 days.On an average day,your firm receives 136 checks with an average value of $219 each.The daily interest rate on Treasury bills is 0.021 percent.The bank charge per check is $0.26.What is the anticipated daily cost of the lockbox system?

• A)$3.48
• B)$6.25
• C)$12.60
• D)$35.36
• E)$36.17

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Definitions:

Political Pressure

Efforts exerted by individuals, groups, or organizations to influence government officials and policies in their favor.

Organized Demonstrations

Planned public gatherings where groups of people protest or rally for or against a cause, often aiming to draw attention to an issue and influence public opinion or policy.

Gender Empowerment Measure

A composite index measuring the empowerment of women in a country, based on their participation in political and economic life and decision-making power.

Gender Inequality

The unequal treatment or perceptions of individuals based on their gender, resulting in disparities in opportunity, rights, and status.