Bishop Company Wrote Checks Totaling $51240 During October (Its First

question 190

Multiple Choice

Bishop Company wrote checks totaling $51240 during October (its first month of operations) and $55950 during November.$48720 of these checks cleared the bank in October and $54660 cleared the bank in November.What was the amount of outstanding checks on November 30?

• A)$3810.
• B)$690.
• C)$1830.
• D)$5940.

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Definitions:

Expectations

In economics, expectations refer to the beliefs or forecasts about future events, such as inflation rates, economic growth, or future income levels, which can influence current economic behaviors.

Suppliers

Suppliers are individuals or companies that provide goods or services to other entities, typically within a commercial chain.

Wages

The fixed regular payment, typically calculated on a daily or hourly basis, made by an employer to an employee, especially to a manual or unskilled worker.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.