On average, your firm receives 62 checks a day from customers. These checks, on average, are worth GHS 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 GHS 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) $3,710.70
D) $5,101.50
E) $6,802.00
Answer: C) $3,710.70
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A) the growth rate of real GDP per person in the United States has been increasing. B) U.S. real GDP per person has fallen below that of the other rich industrial countries. C) U.S. real GDP per person has increased. D) Both answers A and C are correct.
The break-even price for a perfectly competitive firm is the price that is equal to
A) AVC. B) ATC. C) MC. D) MR
Perfect competition occurs in a market where there are many firms each selling:
A) identical product. B) similar product. C) unique product.
If a firm sells a total of 100 shares of stock, then
a. each share represents 1 percent of the firm's indebtedness. b. each share represents ownership of 1 percent of the firm. c. the firm is engaging in term finance. d. All of the above are correct.