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:

Formal Operational

The stage of cognitive development, as proposed by Piaget, where individuals are able to think abstractly and logically.

Concrete Operational

A stage in Jean Piaget’s theory of cognitive development during which children gain the ability to think logically about concrete events and objects.

Deferred Imitation

The ability to replicate a behavior observed at an earlier time, even in the absence of the immediate presence of the original stimulus.

Symbolic Play

A type of play in which children use objects, actions, or ideas to represent other objects, actions, or ideas, as part of their cognitive development.