In the Month of May, Lopat Company Inc

question 190

Multiple Choice

In the month of May, Lopat Company Inc.wrote checks in the amount of $64,750.In June, checks in the amount of $88,606 were written.In May, $59,276 of these checks were presented to the bank for payment and $76,181 in June.What is the amount of outstanding checks at the end of June?

• A)$12,425.
• B)$5,474.
• C)$17,899.
• D)$24,850.

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Definitions:

Diversified Portfolio

A combination of various kinds of investments, such as stocks, bonds, and real estate, which aims to reduce overall investment risk.

ETFs

Exchange-Traded Funds, investment funds that are traded on stock exchanges, similar to stocks, and hold assets such as stocks, commodities, or bonds.

Capital Gain Distributions

The payments made to shareholders of a mutual fund from profits earned on the sale of securities within the fund's portfolio.

Income Distributions

Periodic payments made to investors from funds generated through dividends or interest by an investment fund or income-generating asset.