Fran and Bob (Who Are Married)own and Manage a Cleaning

question 72

Multiple Choice

Fran and Bob (who are married) own and manage a cleaning service.A potential advantage of this arrangement is that:

• A)differences of opinion about the business won't carry over into family lives since they will see each other more hours daily.
• B)it affords the opportunity to share more of their lives and build something together.
• C)the business isn't likely to dissipate their energies as they can each work on separate sections.
• D)they can count on working fewer hours in the business.

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Definitions:

Cheque Delay

A situation where there is a postponement in the processing or clearance of a cheque by a bank.

Average Daily Float

This refers to the average amount of uncollected checks or electronic transfers in the process of clearing.

Cheques

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.

Collection Delay

The time lag between the date an entity issues an invoice and the date it actually receives payment.