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Which of the Following Statements About Float Is NOT True

question 5

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Which of the following statements about float is NOT true?


Definitions:

Float Time

The period between when a check is deposited in a bank account and when the amount is credited, reflecting processing time.

Overdrafts

A financial situation where more money is withdrawn from an account than what is available, often leading to fees.

Forged Checks

Checks that have been illegally altered or signed without the account holder's authorization.

FDIC

The Federal Deposit Insurance Corporation, a United States government agency that insures deposits at banks and thrifts up to the legal limit.

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