When You Deposit a Check,there Is a Delay Before It

question 91

True/False

When you deposit a check,there is a delay before it gets credited to your bank account.This reduces your available balance compared to your ledger balance.Your net float is the difference between the balance in your company ledger and the balance recognized by your bank.

---

Definitions:

Variable

Refers to a quantity that can change or vary over time or based on certain conditions.

Period

A duration of time identified for specific accounting or financial reporting purposes.

Overapplied

A situation where the overhead allocated to products is greater than the actual overhead incurred.

Underapplied

A situation where the allocated amount of manufacturing overhead costs is less than the actual overhead costs incurred.