Final answer:
Alice can create 24 wrappings from the rectangular sheet of paper.
Step-by-step explanation:
To determine the number of wrappings Alice can create, we need to find the largest square that can fit within the dimensions of the rectangular sheet of paper. The largest square that can fit within both the length and width of the rectangular sheet is the greatest common divisor (GCD) of the length and width. In this case, the GCD of 120 and 96 is 24. Therefore, Alice can create 24 wrappings from the rectangular sheet of paper.