A Manager Estimates That Her Firm Benefits from an Average

question 45

Multiple Choice

A manager estimates that her firm benefits from an average float time of six days.Which of the following is true if the firm averages $15,000 per day in payments?

• A)the firm is losing interest on $90,000 per year
• B)the firm's ledger balance averages $90,000 more than the bank's ledger balance
• C)the firm has $45,000 in net float
• D)the available balance at the bank is $90,000 greater than shown on the firm's books

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Definitions:

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