KL Textiles Writes 22 Checks a Day for an Average

question 77

Multiple Choice

KL Textiles writes 22 checks a day for an average amount of $827 each.These checks generally clear the bank 3.5 days after they are written.In addition, the firm generally receives an average of $23,902 a day in checks.Deposited amounts are available after one day.What is the amount of the firm's disbursement float?

• A)$11,951
• B)$23,902
• C)$39,777
• D)$29,840
• E)$63,679

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Definitions:

Alcoholic Drinks

Beverages containing ethanol, a type of alcohol produced by fermenting grains, fruits, or other sources of sugar.

Tolerance

The body's reduced response to a drug after prolonged use, requiring an increased dosage to achieve the original effect.

Illicit Substance

A substance whose production, sale, or use is prohibited by law.

Bioavailability

The degree and rate at which a drug or other substance is absorbed or becomes available at the intended biological site of action.