Briefly Explain the Concept of Line and Staff Departments and Authority

question 61

Essay

Briefly explain the concept of line and staff departments and authority.

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Definitions:

Mailing Days

The days that are considered when calculating the time it will take for mail and packages to be delivered.

Bank Deposit

Money placed into a banking institution for safekeeping, which can earn interest depending on the type of account.

Weighted Average Float

Weighted average float refers to the average time between when a check is deposited in a bank and when the funds are made available, weighted by the value of each check.

Clearing Times

The period it takes for a transaction to be processed, confirmed, and settled between buyer and seller in the financial markets.