Examlex
Which of the following statements is incorrect?
Bank
A financial institution licensed to receive deposits and make loans, and offer other financial services, such as wealth management and currency exchange.
Float Balance
The amount of money within a financial system that is briefly counted twice due to time gaps in registering a deposit or withdrawal, often seen in the banking system.
Ledger Balance
The balance of a bank account at the start of each day, including all deposits and withdrawals that have been posted to the account.
Miller-Orr Model
A model used to manage cash balances by setting upper and lower limits on cash reserves, triggering transfers to optimize interest and liquidity.
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