The collection float is the amount of time that elapses between depositing the debtor's check in an account and the check clearing an account.

Name: The collection float is the amount of time that elapses between depositing the debtor's check in an account and the check clearing an account.
Brand: Quizplus
Rating: 5.0 (42 reviews)

Question

Quizplus · Accepted Answer

The collection float refers to the time period between when a check is deposited into a bank account and when the amount is actually available in the account, reflecting the processing time for the check to clear.

The Collection Float Is the Amount of Time That Elapses