________ Float Is the Delay Between the Receipt of a Check

question 62

Multiple Choice

________ float is the delay between the receipt of a check and the actual deposit of it into the firm's account.

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

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Definitions:

Pay

To give money in exchange for goods, services, or to settle a debt.

Perfect Tender Rule

A rule requiring the seller to deliver goods to the buyer that exactly meet the terms of the contract, without any deviation.

Defective

A condition wherein a product does not operate as intended or expected, often leading to a potential hazard or inefficiency.

Reject Shipment

The act of refusing to accept delivery of goods or services due to non-conformance with the agreed terms.