The Period of Time Which Extends from the Day a Credit

question 163

Multiple Choice

The period of time which extends from the day a credit sale is made until the bank credits a firm's account with the payment for that sale is known as the _____ period.

• A) Float.
• B) Cash collection.
• C) Sales.
• D) Accounts receivable.
• E) Trade credit.

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Definitions:

Nullification Crisis

A political confrontation in the early 1830s between the state of South Carolina and the Federal government over the latter's right to impose tariffs.

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The power of the president to refuse approval of a bill or joint resolution, thus preventing its enactment into law.

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The authority granted to the executive branch of a government, including powers like enforcing laws, administering the public policy, and commanding the armed forces.

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The seventh President of the United States (1829–1837), known for his populist approach and policies, including the Indian Removal Act.