Each Month,your Company Typically Has $1,000,000 and $2,000,000 in Remittances

question 1

Multiple Choice

Each month,your company typically has $1,000,000 and $2,000,000 in remittances with collection floats of 5 and 7 days,respectively.On average,your company's collection float is:

• A)6.00 days
• B)6.33 days
• C)6.50 days
• D)6.67 days

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Definitions:

Promoters

Individuals or organizations that undertake the founding and organization of a corporation by arranging for its financing, registration, and public offering.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another. The obligated party is typically a trustee, financial advisor, or lawyer.

Competing Business

A company that operates in the same industry and market segment as another, offering similar products or services.

Director

An individual appointed to serve on the board of an organization, responsible for overseeing and guiding the organization's policies, finances, and operations.