Which of the Following Is True About Disbursement Float

question 8

Multiple Choice

Which of the following is true about disbursement float?

• A)Funds are collected and credited to an account.
• B)Funds are deposited to a checking account immediately when a check is written.
• C)Funds are removed from the checking account immediately when the check clears the checking account.
• D)Funds are collected and debited to an account.
• E)none of the above

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Definitions:

GAAP

The set of rules and standards designed to ensure consistency, transparency, and integrity in financial reporting and accounting practices.

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The disposal of a segment, subsidiary, or unit of a business, often recorded separately in the financial statements.

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A business that provides services related to the transmission of information through various media, including telephone, internet, and broadcasting.

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A business entity specialized in the production and distribution of clothing items.