Table 15-7 Sally Owns the Only Shoe Store in Town. She Has

question 170

Multiple Choice

Table 15-7
Sally owns the only shoe store in town. She has the following cost and revenue information.
-Refer to Table 15-7. What is the total revenue from selling 6 pairs of shoes?

• A)$100
• B)$600
• C)$625
• D)$660

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Definitions:

Collection Float

The time period between when a check is deposited and when the funds are available in the payee’s account, reflecting the bank’s processing time.

Banking System

denotes the network of institutions that provide financial services, including deposits, loans, and currency exchanges.

Collection Float

The time difference between when a check is deposited into a bank account and when the funds are made available.

Availability Delay

The lag time between when a deposit is made into an account and when the funds become available for use.