As of This Morning, Your Firm Had a Ledger Balance

question 108

Multiple Choice

As of this morning, your firm had a ledger balance of $740 with no outstanding deposits or checks. Today, your firm deposited 5 checks in the amount of $89 each and wrote a check in the amount of $330. What is the amount of the collection float as of the end of the day?

• A) $115
• B) $240
• C) $330
• D) $445
• E) $775

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Definitions:

Profit

The financial gain received when the revenue from selling goods or services exceeds the cost of producing these goods or services.

Marginal Revenue

The additional revenue a business receives from selling one more unit of a good or service.

Average Cost

The per-unit cost obtained by dividing total production expenses by the number of produced units.

Patent Policies

Regulations and guidelines governing the protection of inventions and intellectual property to encourage innovation and investment in research and development.