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The Quick Corp

question 94

Essay

The Quick Corp.has implemented procedures to cut 1.5 days from their cash collection process.Annual sales (all charge sales) are $30 million and the opportunity cost of funds is 9 percent.What is the value of the annual savings, and how much would the savings be worth if the speed-up in collections can be considered permanent?


Definitions:

American War

Likely refers to any significant military conflict involving the United States, but without specific context, it could mean the American Civil War, the American Revolution, or another major conflict.

Slave Codes

Laws that were established in the colonial and antebellum Southern United States to define the status of slaves and the rights of masters. These codes placed harsh restrictions on slaves’ behaviors and movements.

Defined

Clearly characterized or determined; having a clear definition or boundary.

Atlantic Slave Trade

The transatlantic trading of African people, primarily to the Americas, where they were sold as slaves from the 16th to the 19th centuries, a key part of the triangular trade.

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