On an Average Day,Plastics Enterprises Writes 42 Checks with an Average

question 97

Multiple Choice

On an average day,Plastics Enterprises writes 42 checks with an average amount of $587.These checks clear the bank in an average of 2 days.What is the average amount of the disbursement float?

• A)$1,174
• B)$5,805
• C)$24,654
• D)$49,308
• E)$73,962

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Definitions:

Economics

The social science that studies the production, distribution, and consumption of goods and services.

Investment

The allocation of resources, usually financial, into projects, assets, or enterprises, aiming to earn a return over time.

Inventory

The total amount of goods and materials held in stock by a business, industry, or other entity, used in production or sales.

Sole Proprietorship

An unincorporated business firm owned by one person.