Rainey Company Wrote Checks Totaling $8,540 During October and $9,325

question 91

Multiple Choice

Rainey Company wrote checks totaling $8,540 during October and $9,325 during November. $8,120 of these checks cleared the bank in October, and $9,110 cleared the bank in November. What was the amount of outstanding checks on November 30?

• A) $635
• B) $115
• C) $305
• D) $990

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Definitions:

Entrepreneur

An individual who starts and manages a business venture, taking on financial risks in the hope of profit.

Software Firm

A company specialized in developing, distributing, and maintaining software products or services.

Confidence

The feeling or belief that one can rely on someone or something; firm trust and self-assurance in one's powers, abilities, or qualities.

Entrepreneurs

Individuals who innovate, create, manage, and assume the risks of a business venture in pursuit of profits and growth.