What is the hospital float

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Reference no: EM131829197

1. Suppose a hospital writes checks of $100,000 per day and it takes, on average, seven days for them to be received by and clear the banking system. Furthermore, the hospital receives $120,000 in checks daily that take four days to be deposited and credited. What is the hospital's float?

1) $100,000

2) $120,000

3) $220,000

4) $240,000

5) $440,000

2. A person with a total lax liability of $4,440 and withholding of federal taxes of $3,985 would ?

A. Owe $455

B. Receive a refund of $455

C. owe $4,440

D. recieve a refund of $3,985

E. Receive a refund of $4,440

Reference no: EM131829197

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