In the Month of November (Its First Period of Operations)

question 87

Multiple Choice

In the month of November (its first period of operations) Gavin Company Inc.wrote checks in the amount of $55500.In December checks in the amount of $75948 were written.During November $50808 of these checks were presented to the bank for payment and $65298 during December.What is the amount of outstanding checks at the end of December?

• A)$10650.
• B)$15342.
• C)$4692.
• D)$21300.

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Definitions:

Residual Income

The amount of income that exceeds the minimum return expected from a particular investment or operation.

Residual Income

The income that remains after deducting the cost of capital from the operating income.

Performance Evaluation

The process of assessing and reviewing an employee's work performance and productivity, often leading to feedback or development plans.

Return On Investment

A measure used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments.