On Average,your Firm Receives 65 Checks a Day from Customers

question 68

Multiple Choice

On average,your firm receives 65 checks a day from customers.These checks,on average,are worth $39.90 each and clear the bank in 1.5 days.In addition,your firm disburses 38 checks a day with an average amount of $89.50.These checks clear your bank in 2 days.What is the average amount of the collection float?

• A)$2,473.80
• B)$3,401.00
• C)$3,890.25
• D)$5,101.50
• E)$6,802.00

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Definitions:

Biological Children

Children who are born to their parents, sharing direct genetic material.

Psychosocial Model

A framework for understanding how psychological and social factors interact to influence an individual's health and behavior.

Normative Stage

A stage or phase of development that is considered typical or expected within a given cultural or societal context.

Sequential Stage

A development phase that follows a specific, predetermined order, often used in the context of learning processes or developmental psychology.