Collection Float

question 126

Multiple Choice

Collection float:

• A) Is the result of sending a cheque through the mail to one of your suppliers.
• B) Increases the available balance before it increases the ledger balance.
• C) Allows you to earn interest on money that technically is no longer yours.
• D) Is equal to a firm's available balance minus the firm's book balance.
• E) Can be reduced by slowing down the cheque processing time within a firm.

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