Your Firm Generally Receives 4 Checks a Month

question 96

Multiple Choice

Your firm generally receives 4 checks a month.The check amounts and the collection delay for each check is shown below.Given this information what is the amount of the average daily float? Assume a 30 day month.

• A)$1,120
• B)$2,333
• C)$2,640
• D)$2,900
• E)$3,416

---

Definitions:

Mercury

A chemical element with symbol Hg and atomic number 80, known for being a liquid metal at room temperature and for its toxicity.

Cerebrospinal Fluid

A clear, colorless body fluid found in the brain and spinal cord, it acts as a cushion for the brain's cortex, providing basic mechanical and immunological protection to the brain inside the skull.

Amphetamine

A potent central nervous system stimulant used to treat attention deficit hyperactivity disorder (ADHD) and narcolepsy, and recreationally as a performance enhancer and euphoriant.

Blood-Brain Barrier

A selective permeability barrier that protects the brain from foreign substances in the blood that may injure the brain.