In the Month of May, Kijak Company Inc

question 3

Multiple Choice

In the month of May, Kijak Company Inc. wrote checks in the amount of $56,000. In June, checks in the amount of $76,000 were written. In May, $50,000 of these checks were presented to the bank for payment, and $66,000 in June. What is the amount of outstanding checks at the end of June?

• A) $6,000
• B) $10,000
• C) $16,000
• D) $20,000

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Definitions:

Non-liquidated Damages

Compensation amounts not specified in a contract, to be determined in case of a breach according to the actual harm suffered.

Employer Fines

Penalties imposed on employers for violations of employment laws or regulations.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society.

Certainty Avoidance

A cognitive behavior aiming to prevent ambiguity and ensure clarity in communication or information processing.