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Describe the three phases of decision making.
Disbursement Float
The time between when a check is issued by a company and when the funds are actually removed from the company's bank account.
Cheques
Documents that order a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.
Collection Float
The time span between when a check is deposited and when the funds are actually available in the account, reflecting processing time.
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