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Question 427 - CTFA discussion

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Collection float is the __________.

A.
Total time between the mailing of the check by the customer and the availability of cash to the receiving firm
Answers
A.
Total time between the mailing of the check by the customer and the availability of cash to the receiving firm
B.
Time consumed in clearing the check through the banking system
Answers
B.
Time consumed in clearing the check through the banking system
C.
Time the check is in the mail
Answers
C.
Time the check is in the mail
D.
Time during which the check received by the firm remains uncollected
Answers
D.
Time during which the check received by the firm remains uncollected
Suggested answer: A
asked 16/09/2024
Reginald Curtis Jr
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