(i) the average lifetime of a debt security's stream of payments is called duration.
(ii) the duration of a portfolio is the weighted average of the durations of the individual securities, with the weights reflecting the proportion of the portfolio invested in each.

a. (i) is true, (ii) false.
b. (i) is false, (ii) true.
c. both are true.
d. both are false.

The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?