Disbursement Float Is Created Every Time You

question 153

Multiple Choice

Disbursement float is created every time you:

• A) Deposit cash into your chequing account.
• B) Receive a paycheque and deposit it in your chequing account.
• C) Mail a cheque to pay your rent.
• D) withdraw cash from an ATM.
• E) Transfer funds via the internet from your chequing account to your savings account.

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Definitions:

Fiduciary Duty

An obligation to act in the best interest of another party, such as a trustee's duty towards beneficiaries.

Closely Held

A description for a corporation or company that has a small number of shareholders, often characterized by its shares not being widely available to the public.

Fiduciary Duty

A legal obligation requiring one party to act solely in another party's interest with a high standard of care, especially in matters concerning trust and confidence.

Office Equipment

Items and machinery used in an office to assist in tasks and operations, such as computers, printers, and furniture.