1) Walmart, Inc has a net profit of $90 Billion, accounts receivable of $20 Billion, and annual sales of $500 Billion. Calculate the firm's Days Sales Outstanding, or average collection period, given this information.
A. 12.74 Days
B. 14.60 Days
C. 20 Days
D. 36 Days
2) A __________ is one of the oldest cash management tools in which incoming checks are sent to the post office boxes rather than to the firm's corporate headquarters, ultimately reducing the time required to receive incoming checks, to deposit them, and to get them cleared through the banking system and available for company use.
A. Grab n' Go system
B. Padlock system
C. Lockbox system
D. Floating deposit system