Modos Company Has Deposited $3,500 in Checks Received from Customers

question 135

Multiple Choice

Modos Company has deposited $3,500 in checks received from customers. It has written $1,400 in checks to its suppliers. The initial bank and book balance was $600. If $1,600 of its customers' checks have cleared, but only $600 of its own, calculate its float.

• A) $1,200
• B) $1,100
• C) $300
• D) $700

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Definitions:

Traditional IQ Tests

Standardized assessments designed to measure human intelligence and cognitive abilities according to culturally defined norms.

Creativity

The ability to produce original and valuable ideas or articulate novel solutions to problems.

Wechsler Adult Intelligence Scale

A standardized test designed to measure intelligence and cognitive ability in adults and older adolescents.

WAIS

Wechsler Adult Intelligence Scale, a standardized test designed to measure human intelligence in adults.