Hoppmann Company Wrote Checks Totaling $25,620 During October and $27,975

question 151

Multiple Choice

Hoppmann Company wrote checks totaling $25,620 during October and $27,975 during November. $24,360 of these checks cleared the bank in October, and $27,330 cleared the bank in November. What was the amount of outstanding checks on November 30?

• A) $645
• B) $1,260
• C) $1,905
• D) $2,355

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Definitions:

Negative Correlation

A statistical relationship between two variables such that as one variable increases, the other decreases.

Psychological Disorder

Deviant, distressful, and dysfunctional patterns of thoughts, feelings, and actions.

Degree of Wealth

A measure of the amount of financial assets or resources that an individual, family, or organization possesses.

Random Sequences

A series of numbers or symbols in which each element is generated without any predictable pattern or correlation with the other elements.