A Firm's Float Management Policy Is Most Apt to Include

question 57

Multiple Choice

A firm's float management policy is most apt to include which one of the following statements?

• A) All invoices are to be paid the same day they are received.
• B) All outgoing checks are to be delivered by the fastest means possible.
• C) The depository bank needs to process all deposits in accordance with the Check Clearing Act for the Century.
• D) Any check received is to be held until the customer's account has been updated to record the payment.
• E) Accounts payables processing should be given priority over accounts receivables processing.

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Definitions:

Inner Motivation

The personal drive to do something that comes from within an individual, rather than from external pressures or rewards.

Dogmatic Thinking

An approach to understanding the world that involves strong beliefs or doctrines that are not open to question or skepticism.

Categorical Thinking

The process of organizing information by grouping similar objects, concepts, or experiences into categories or “buckets” in our minds.

Mental Retardation

An outdated and offensive term previously used to describe a condition characterized by below-average intellectual function and a lack of skills necessary for daily living; now more respectfully referred to as intellectual disability.