Multiple Choice
Clancy's has a beginning cash balance of $27 and a net cash inflow for the quarter of −$52.Company policy is to maintain a minimum cash balance of $20 and borrow only the amount that is necessary to maintain that balance.How much,if any,does the firm need to borrow this quarter?
A) $17
B) $52
C) $45
D) $25
E) $0
Correct Answer:
Verified
Correct Answer:
Verified
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