Multiple Choice
A manager estimates that her firm benefits from an average float time of 6 days.Which of the following is true if the firm averages $15,000 per day in payments?
A) The firm is losing interest on $90,000 per year.
B) The firm's ledger balance averages $90,000 more than the bank's ledger balance.
C) The firm has $45,000 in net float.
D) The available balance at the bank is $90,000 greater than shown on the firm's books.
Correct Answer:
Verified
Correct Answer:
Verified
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