Your Firm's Ledger Shows a Balance of $1 Million Which

question 21

Multiple Choice

Your firm's ledger shows a balance of $1 million which reflects today's $75,000 deposit and a cheque for $50,000 that went out in yesterday's mail.What is the bank's ledger balance for your account?

• A)$875,000
• B)$975,000
• C)$1,025,000
• D)$1,125,000 available balance = company's balance - availability float + payment float
• = $1,000,000 - $75,000 + $50,000

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Definitions:

Economic Efficiency

A situation in which resources are allocated in the most beneficial way from the perspective of society, where no one can be made better off without making someone else worse off.

Benefits

Advantages or financial assistance received from employment, government, or insurance, aimed at improving individuals’ well-being.

Costs

The expenses incurred in the production or acquisition of goods and services, including both direct and indirect expenditures.

Inelastic Demand

A situation in which the percentage change in quantity demanded of a good is less than the percentage change in price, indicating low sensitivity to price changes.