A Manager Estimates That Her Firm Benefits from an Average

question 108

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:

Intentional Tort

A wrongful act done on purpose that causes harm to someone else, including acts like assault or fraud.

Physical Injury

Bodily harm or damage to a person's body, as opposed to emotional or psychological harm.

Assault

An intentional act that creates a reasonable apprehension in another of an imminent harmful or offensive contact.

Fearful

Feeling afraid or anxious; experiencing apprehension or concern about a possible threat or danger.