The Amount of Time That It Takes for a Check

question 19

Multiple Choice

The amount of time that it takes for a check to clear through the banking system is called

• A) mail float
• B) processing float
• C) clearing float
• D) delivery float

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Definitions:

Law

A system of rules that are created and enforced through social or governmental institutions to regulate behavior.

Economically Inefficient

A situation where resources are not allocated optimally, leading to waste or the inability to maximize value or output.

Nonrivalry

The idea that one person’s benefit from a certain good does not reduce the benefit available to others; a characteristic of a public good.

Consumption

The use of goods and services by households, often considered a primary economic indicator.