Figure to Accompany Table 7.1

question 3

Multiple Choice

Figure to accompany Table 7.1

Table 7.1

-Using the information shown in Table 7.1, what is the earliest finish time for activity A?

• A) 0
• B) 2
• C) 3
• D) 4

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Definitions:

Outstanding Checks

Refer to checks that have been written and recorded in the issuer's accounting records but have not yet cleared or been deducted from the bank account balance.

Internal Control

Processes and practices implemented to safeguard a company's assets, ensure financial reporting accuracy, and comply with regulations.

Customer's Ledger

A detailed record keeping of all transactions between a business and its customers, often part of the accounts receivable.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, used to prepare financial statements.