________ float results from the delay between the time when a customer deducts a payment from the checking account ledger and the time when the vendor actually receives the funds in a spendable form.
A) Mail
B) Processing
C) Collection
D) Disbursement

Question

Quizplus · Accepted Answer

Collection float is the time delay between the date a bank receives a check and the date on which it clears the account from which the funds were drawn. This float is created from the time between when a check is deposited and when funds are available in the account.

________ Float Results from the Delay Between the Time When