Harrah Company Provided the Following Information for the Month of October

question 62

Multiple Choice

Harrah Company provided the following information for the month of October: $\begin{array}{lr}\text { Beginning cash balance } & \$ 35,000 \\\text { Cash receipts } & 460,000 \\\text { Cash disbursements } & 485,000\end{array}$ Harrah's policy is to keep a minimum end-of-the-month cash balance of $30,000.How much will Harrah's need to borrow during August?

• A)$20,000
• B)$25,000
• C)$10,000
• D)$0

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Definitions:

Exports

Goods or services sold by a country or business to buyers in another country.

Quantitative Restriction

Measures imposed by governments to limit the quantity of goods that can be imported or exported over a specified period.

Luxury Automobiles

High-end cars that offer superior performance, comfort, and amenities, often associated with status, exclusivity, and a high price point.

Quota

A fixed share or a specific limit on goods or services, often imposed by governments on imports or exports.