A Student Manually Prepares a Homework Assignment and Then Turns

question 6

Multiple Choice

A student manually prepares a homework assignment and then turns it in to her teacher.Which one of the following diagrams represents this activity?

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Definitions:

Book Balance

refers to the current balance in a company’s accounting records, not including any pending transactions that have not yet been cleared or settled.

Net Collection Float

The time difference between when a check is deposited and when the funds are available in the firm's account, affecting available cash.

Net Disbursement Float

The time difference between when a check is issued by a company and when the funds are actually withdrawn from the company's bank account.

Outstanding Checks

Checks that have been written and recorded in the account ledger but not yet cashed or cleared by the bank.