ABC Corpshows a Ledger Balance of $50,000 Prior to Writing a a Cheque

question 39

Multiple Choice

ABC Corp.shows a ledger balance of $50,000 prior to writing a cheque for $5,000 and depositing $1,000 in cheques.What is the amount of their net float?

• A)$1,000
• B)$4,000
• C)$5,000
• D)$6,000

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Definitions:

Standard Hours

The set amount of time expected to complete a task or produce a good, used in planning and measuring efficiency.

Price Variance

The difference between the actual cost of a good or service and its planned or budgeted cost.

Material A

Material A most likely refers to a specific type of raw material used in production processes, identifiable by a unique characteristic or designation.

Materials Price Variance

The variance between the standard cost and the actual expense of materials, calculated by multiplying the actual volume of materials utilized.