Charlies's Writes 135 Checks a Day for an Average Amount

question 30

Multiple Choice

Charlies's writes 135 checks a day for an average amount of $480 each.These checks generally clear the bank in 3 days.In addition,the firm generally receives an average of $159,000 a day in checks that are deposited immediately.Deposited funds are available in 1.5 days.What is the firm's net float?

• A)Net disbursement float of $94,200
• B)Net disbursement float of $44,100
• C)Net disbursement float of $34,750
• D)Net collection float of $44,100
• E)Net collection float of $94,200

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Definitions:

Delegating Tasks

The process of assigning responsibility and authority to subordinates or team members to complete specific tasks or projects.

Stress Management Program

A structured approach designed to help individuals cope with and reduce their levels of stress effectively.

Mediation

A process where a neutral third party assists two or more parties in reaching a settlement or agreement.

Relaxation Procedures

Techniques or practices designed to reduce tension and anxiety, promoting physical and mental well-being, such as meditation, deep breathing, or yoga.