Processing Float Is the Delay Between the Receipt of a Check

question 237

True/False

Processing float is the delay between the receipt of a check by a payee and its deposit in firm's account.

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Definitions:

Authorized Representative

An individual who has been formally empowered to act on behalf of another person or organization.

Negotiated

The process through which parties discuss and reach a mutual agreement on the terms of a deal or contract.

Organization

A group of people with a particular purpose, such as a business or government department, organized for collective action.

Imprint

A lasting mark or impression, often used in the context of publishing to denote the brand or logo of the publishing house, or in manufacturing to indicate a distinct design.