Checks Written by the Firm Are Said to Generate

question 35

Multiple Choice

Checks written by the firm are said to generate:

• A) collection float.
• B) ledger float.
• C) disbursement float.
• D) book float.

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Definitions:

Schedule

A plan for carrying out a process, detailing the times at which certain events are to occur.

Work in Process

Inventory consisting of items that are in the production process but are not yet completed.

Ending Balance

The final amount in an account at the end of a period, calculated by adjusting the starting balance for charges, credits, and other financial activity.

Goods Sold

The total quantity of products that have been sold to customers.