Gentech Corp

question 53

Multiple Choice

Gentech Corp.prepared a bank reconciliation as of June 30, 2014.The following items were identified:

Gentech's adjusted cash balance at June 30, 2014 is

• A)$13,800
• B)$14,100
• C)$14,000
• D)$14,300

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Definitions:

Elasticity

A general concept measuring the responsiveness of one variable to changes in another variable.

Efficiency Loss

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Marginal Tax Rate

The tax rate paid on an additional dollar of income.

State And Local Taxes

Taxes imposed by individual states and local governments in the U.S. on income, property, sales, and other activities to fund public services.