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Both Julia and Celia are equally negative about their daughters' competencies in mathematics, based on the daughters equally poor math performances. Yet, over the next two years, Julia's daughter shows distinct improvements in math whereas Celia's daughter does not. Pomerantz and Dong (2006) might explain this result by suggesting that
Near Cash
Assets that are not cash but can be quickly converted into cash with minimal loss of value.
Transit Float
The time difference between when a check is deposited and when the funds are credited to the depositor's account, during which the funds are in transit.
Check Clearing
The process through which banks settle transactions made by checks, transferring funds from the issuer's account to the recipient's account.
Receivables Level
The total amount of outstanding invoices a company has at any given time, indicating funds owed by customers.
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