On Average,your Firm Receives 65 Checks a Day from Customers

question 68

Multiple Choice

On average,your firm receives 65 checks a day from customers.These checks,on average,are worth $39.90 each and clear the bank in 1.5 days.In addition,your firm disburses 38 checks a day with an average amount of $89.50.These checks clear your bank in 2 days.What is the average amount of the collection float?

• A)$2,473.80
• B)$3,401.00
• C)$3,890.25
• D)$5,101.50
• E)$6,802.00

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Definitions:

Daguerreotype

A photograph made by an early method on a plate of chemically treated metal; developed by Louis J. M. Daguerre.

Calotype

From the Greek kalos, “beautiful.” A photographic process in which a positive image is made by shining light through a negative image onto a sheet of sensitized paper.

Camera Obscura

An ancient optical device that projects an image of its surroundings on a screen; used in drawing and for entertainment, and a precursor to modern photography.

Approximate Height

A measurement that provides an educated guess or estimation of an object or person's height, not necessarily based on precise measurements.