A Firm's Float Management Policy Is Most Apt to Include

question 66

Multiple Choice

A firm's float management policy is most apt to include which one of the following statements?

• A)All invoices are to be paid the same day they are received.
• B)All outgoing checks are to be delivered by the fastest means possible.
• C)The depository bank needs to process all deposits in accordance with the Check Clearing Act for the 21^st Century.
• D)Any check received is to be held until the customer's account has been updated to record the payment.
• E)Accounts payable processing should be given priority over accounts receivable processing.

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Definitions:

Customer Service

The assistance and support provided by a company to those people who buy or use its products or services.

Workers' Pay

Compensation or salary received by employees for their labor or services provided to an employer.

Corporate Behavior

The actions, reactions, and interactions of a corporation with its stakeholders, governed by its culture, ethics, and governance practices.

Stockholders

Individuals or entities that own one or more shares of stock in a public or private corporation, which represents a share in its ownership.