American_Bankers_Association
CTFA · Question #402
CTFA Question #402: Real Exam Question with Answer & Explanation
The correct answer is D. Time during which the check received by the firm remains uncollected. See the full explanation below for the reasoning.
Question
Deposit float is the __________.
Options
- ATotal time between the mailing of the check by the customer and the availability of cash to the
- BTime consumed in clearing the check through the banking system
- CTime the check is in the mail
- DTime during which the check received by the firm remains uncollected
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