Jumpdisk Company Writes Checks Averaging $15,000 a Day, and It

question 140

Multiple Choice

Jumpdisk Company writes checks averaging $15,000 a day, and it takes 5 days for these checks to clear. The firm also receives checks in the amount of $17,000 per day, but the firm loses three days while its receipts are being deposited and cleared. What is the firm's net float in dollars?

• A) $126,000
• B) $ 75,000
• C) $ 32,000
• D) $ 24,000
• E) $ 16,000

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Definitions:

Limited Value

Something that has restricted worth or usefulness in certain situations or contexts.

Reliability

The degree to which an assessment tool produces stable and consistent results over repeated measures.

Original

Being the earliest form or version, from which copies can be made or deriving directly from an authentic source or experience.

Novel

A long, fictional narrative that describes intimate human experiences, often exploring character, action, and setting in detail.