It Is Acceptable to Place Blame on the Customer in Denying

question 51

True/False

It is acceptable to place blame on the customer in denying a claim to protect the company from liability.

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Definitions:

Collection Float

The time difference between when a check is deposited into a bank account and when the amount is credited to the account, affecting the cash flow.

Collection Float

The time period between when a check is deposited into a bank account and when the amount is available for use.

Net Float

The difference between checks written and deposited in the bank not yet cleared or settled.

Ledger Balance

The total balance in a ledger account at a particular point in time, reflecting all transactions up to that moment.