Suppose you have $10,000 in your chequing account.You write a cheque for $2,000 and deposit $3,000.What is your disbursement float?
A)$2,000
B)$3,000
C)$7,000
D)$8,000

Question

Quizplus · Accepted Answer

The disbursement float is the amount of money that has been paid out but has not yet cleared from your account. In this case, you wrote a cheque for $2,000, so that amount is now considered part of your disbursement float until it is processed and cleared by the bank. The deposit of $3,000 does not affect the disbursement float as it has not been paid out from the account. Therefore, the disbursement float is $2,000.

Suppose You Have $10,000 in Your Chequing Account