Find the Break-Even Size of Wire Transfer If the Cost

question 13

Multiple Choice

Find the break-even size of wire transfer if the cost of wire transfer is $20, the daily interest rate is 0.02 percent and the reduction in float is three days.

• A)$1,000
• B)$25,000
• C)$33,333
• D)$100,000

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Definitions:

Adjusting Entry

A record added in the books at the closing of an accounting cycle to note any unrecorded earnings or expenditures during that time.

Rent Revenue

Income received from leasing out properties or spaces to tenants.

Liability-Revenue Relationship

The association between a company's liabilities and its ability to generate income, impacting financial performance.

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed.