________ Float Is the Time That Elapses Between the Deposit

question 50

Multiple Choice

________ float is the time that elapses between the deposit of a check by the payee and the actual availability of funds. This component is attributable to the time required for a check to go through the banking system.

• A) Mail
• B) Processing
• C) Clearing
• D) Disbursement

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Definitions:

Financial Controls

Procedures, policies, and means by which an organization monitors and manages its financial resources and operations.

Information Processing

The process of gathering, manipulating, storing, retrieving, and classifying recorded information.

Accuracy Issue

A problem or challenge associated with the correctness or preciseness of information, data, or outcomes.

Privacy Issue

Concerns or disputes over the collection, use, and dissemination of personal information.