On an Average Day, Cory, Inc

question 1

Multiple Choice

On an average day, Cory, Inc. writes 30 checks with an average amount of $215. These checks clear the bank in an average of 3 days. What is the average amount of the disbursement float for Cory, Inc.?

• A) $645
• B) $5,805
• C) $6,450
• D) $19,350
• E) $29,025

---

Definitions:

Model Usefulness

The effectiveness and practicality of a theoretical model in explaining, predicting, or making decisions in real-world situations.

Operating Leverage Factor

A measure that assesses the degree to which a company can increase operating income by increasing revenue, highlighting the fixed versus variable costs structure.

Sales Revenue

The total amount of money generated from the sale of goods or services before any expenses are subtracted.

Profit Increase

The growth in profit from one period to another, often measured as a percentage increase, indicating the company's improved financial performance.