The amount of checks that have been received and deposited but have not yet been made available to the account in which they were deposited is the _____ float.
A) disbursement
B) net
C) collections
D) balance
E) deposit

Question

Quizplus · Accepted Answer

The term "float" refers to the time between when a check is deposited and when funds become available in the account. The collections float refers to checks that have been deposited but have not yet cleared or been made available to the account. Disbursement refers to the outflow of funds, net is the amount left over after deductions, balance refers to the total amount of money in an account, and deposit refers to the act of putting money into an account.

The Amount of Checks That Have Been Received and Deposited