The Basic Components of Collection Float Include All of the Following

question 48

Multiple Choice

The basic components of collection float include all of the following EXCEPT____________float.

• A) mail
• B) clearing
• C) disbursement
• D) processing

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Definitions:

Bills Of Exchange Act

The Bills of Exchange Act is legislation that regulates the creation, transfer, obligations, and rights of parties involved in bills of exchange, a form of negotiable instrument used in trade and finance.

Promissory Notes Act

Legislation that governs the issuance, form, and effects of promissory notes, which are written promises to pay a specified sum of money to a specified person or the bearer at a specified time.

Countermand Payment

The act of canceling a payment or stopping the processing of a payment order by the payer.

Certified Cheque

A cheque guaranteed by a bank, indicating that the signer has enough funds in their account to cover the amount of the cheque.