Stewart's Office Supply has revised its office procedures such that it now takes one day to prepare the daily deposit,rather than two days.Accounts payable are processed in five days,rather than the previous four days,so that shipping and receiving can better verify the charges before the checks are written.How will these revised procedures affect the firm's float?
A) Increase the disbursement float by one day
B) Decrease the collection float by one day
C) Decrease the net float by two days
D) Increase the net float by two days
E) There will be no effect on the firm's float
Correct Answer:
Verified
Q23: Faith wrote a check for $22 on
Q25: Which one of the following is most
Q26: Which one of the following statements is
Q27: Al's Bakery has a checkbook balance of
Q27: Which one of the following is a
Q29: Which one of the following best represents
Q30: Which one of the following is most
Q31: Which one of the following best defines
Q32: Which of the following practices will reduce
Q34: A firm's float management policy is most
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents