Disbursement Float Is Virtually Eliminated When Payments Are Made Electronically

question 344

True/False

Disbursement float is virtually eliminated when payments are made electronically.

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Definitions:

AGI Deduction

Adjustments made to gross income in order to calculate the Adjusted Gross Income (AGI), affecting tax liability.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.

Self-Employed

An individual who operates a business or trade as a sole proprietor or independent contractor, responsible for their own tax filings and benefits.

Health Savings Account

A tax-advantaged saving account designed for individuals covered under high-deductible health plans to save for medical expenses.