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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Definitions:

Survivors

Individuals who have lived through a dangerous or life-threatening event or situation and are often coping with the aftermath or consequences of such experiences.

Belongings

Personal items or possessions owned by an individual.

Destroyed

To have been completely ruined or demolished, leaving nothing salvageable or in its original state.

Hostage Situation

A tense scenario where individuals are held captive by one or more individuals seeking to achieve certain demands or objectives through the threat of harm.