Table 5.18 -Refer to Table 5.18.Looking at the Table Above, the Real

question 238

Multiple Choice

Table 5.18
-Refer to Table 5.18.Looking at the table above, the real average hourly wage in 2015 was

• A)$19.13 in 2002 dollars.
• B)$19.89 in 2002 dollars.
• C)$26.30 in 2002 dollars.
• D)$314.80 in 2002 dollars.
• E)$423.93 in 2002 dollars.

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Definitions:

Collection Time

The average period it takes for a business to receive payments owed by its customers after a sale has been made, often measured in days.

Mailing Days

The days that are considered when calculating the time it will take for mail and packages to be delivered.

Bank Deposit

Money placed into a banking institution for safekeeping, which can earn interest depending on the type of account.

Weighted Average Float

Weighted average float refers to the average time between when a check is deposited in a bank and when the funds are made available, weighted by the value of each check.