16-56 What is float?
A)Overnight payments via CHIPS or Fedwire.
B)Encoding,endorsing,microfilming,and handling customers' checks.
C)Time it takes a check to clear at a bank.
D)Management of multiple currency and security portfolios for trading and investment purposes.
E)Interval between the dispatch of a bill and actual payment by the consumer.

Question

Quizplus · Accepted Answer

Float refers to the time it takes for a check to clear at a bank. It is the time between when a check is deposited and when the funds become available in the account.

16-56 What Is Float