List the Basic Ingredients of Good Performance Measures

question 47

Essay

List the basic ingredients of good performance measures.

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Definitions:

Disbursement Float

The time delay between when a check is written and when it is actually deducted from the payer's account.

Available Balance

The funds in a bank account that are accessible for withdrawal or use, accounting for any pending transactions.

Book Balance

The amount of money on the books or recorded in the financial statements, differing from the actual cash balance due to outstanding checks or deposits in transit.

Zero-balance Account

A type of bank account that maintains a balance of zero, with funds being transferred into it to cover checks written or transactions made.