A firm's float management policy is most apt to include which one of the following statements? A)All invoices are to be paid the same day they are received. B)All outgoing checks are to be delivered by the fastest means possible. C)The depository bank needs to process all deposits in accordance with the Check Clearing Act for the 21^st Century. D)Any check received is to be held until the customer's account has been updated to record the payment. E)Accounts payable processing should be given priority over accounts receivable processing.

Question

Quizplus · Accepted Answer

The Check Clearing Act for the 21st Century (Check 21) allows banks to handle checks electronically, which can speed up the processing of deposits and reduce float time.

A Firm's Float Management Policy Is Most Apt to Include