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Which of the Following Statements Is Not True

question 22

Multiple Choice

Which of the following statements is not true?


Definitions:

Net Float

The difference between checks written against a bank account and those that have been cleared, affecting the account's available balance.

Cheques

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or a named party.

Deposit

Money placed into a financial institution for safekeeping or into an account to fulfill a financial requirement.

Balance

The amount of money held in a financial account at any moment, reflecting all transactions.

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