Collection float is the amount of time that elapses between a check in an account and the check's ,at which point the funds are actually placed in the account.
A)depositing;clearing
B)issuing;clearing
C)writing;being deposited
D)receiving;being deposited
E)A and B above

Question

Quizplus · Accepted Answer

Collection float refers to the time between a check being deposited and the funds actually being placed in the account. This occurs when the check clears, which involves the depositing bank confirming the funds are available and then transferring them to the receiving bank. Therefore, the correct choices are options A) depositing; clearing.

Collection Float Is the Amount of Time That Elapses Between