Back Woods Lodges Has a Book Balance of $1,680, $1,470

question 282

Multiple Choice

Back Woods Lodges has a book balance of $1,680, $1,470 in uncollected deposits, and $2,130 in outstanding cheques. What is the amount of the disbursement float?

• A) $450
• B) $660
• C) $1,470
• D) $1,680
• E) $2,130

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Definitions:

Intangible Assets

Non-physical assets that possess value due to their intellectual or non-material nature, such as patents, trademarks, and goodwill.

Depreciation Method

A systematic approach used to allocate the depreciable amount of an asset over its useful life, such as straight-line or declining balance methods.

Depletion

The systematic allocation of the cost of natural resources over the period of their extraction and sale.

Natural Resource

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.