A Manager Estimates That Her Firm Benefits from an Average

question 20

Multiple Choice

A manager estimates that her firm benefits from an average float time of 6 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:

17-KS Test

A diagnostic test that measures the levels of 17-ketosteroids in the urine to assess adrenal gland function.

Adrenocortical Hormones

Hormones produced by the adrenal cortex that regulate various bodily functions, including metabolism and immune response.

Addison Disease

A disorder in which the adrenal glands don't produce sufficient steroid hormones.

Secretion

The process by which substances are produced and discharged from a cell or gland for a particular function in the organism or for excretion.