A Study of a Company's Practice Regarding the Payment of Invoices

question 21

Multiple Choice

A study of a company's practice regarding the payment of invoices revealed that on the average an invoice was paid 20 days after it was received. The standard deviation equalled five days. A sample of 25 invoices is selected. Assuming that the distribution is normal, what percent of the sampled invoices were paid within 15 days of receipt?

• A) 100%
• B) 37.91%
• C) 34.13%
• D) 86.74%

Understand the mission of an organization and the components of a mission statement.

Learn about document control systems, their functions, and misconceptions.

Grasp the importance of maintaining and tracking scope change requests in project management.

Understand the purpose of role clarification and its significance in project management.

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Definitions:

Good-Faith Purchaser

A buyer who purchases property without knowledge of any claims, liens, or encumbrances on the property.

Good Title

Legal terminology indicating that a property is owned free and clear of any liens, encumbrances, or legal questions concerning the ownership.

Stolen Vehicle

An automobile that has been taken without the owner's consent, typically involving theft.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often resulting in global interconnectedness.