Transit Float Is Caused by

question 139

Multiple Choice

Transit float is caused by

• A) the time necessary for a deposited check to clear the banking system and become usable funds to the company.
• B) the time funds are not available, through the company's bank account, until its payment check has cleared the banking system.
• C) the elapsed time from the moment a customer mails his remittance check until the firm begins to process it.
• D) the time required for the firm to process remittance checks.

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Definitions:

Subtle

So delicate or precise as to be difficult to analyze or describe.

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Relating to or operating by a process or mechanism that performs a function without human intervention.

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A romantic partnership between individuals of different racial backgrounds.

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Opinions, beliefs, and prejudices that a person holds regarding different races.