AFP
CTP · Question #553
(Topic 6) What is the correct sequence of the following disbursement float events, from first to last step? 1. Check clears back to drawee bank account. 2. Check is encoded and enters the clearing…
The correct answer is C. 4, 2, 3, 1. See the full explanation below for the reasoning.
Question
- (Topic 6) What is the correct sequence of the following disbursement float events, from first to last step? 1. Check clears back to drawee bank account. 2. Check is encoded and enters the clearing system. 3. Depositor receives ledger credit. 4. Lockbox bank receives check.
Options
- A3, 2, 1, 4
- B4, 2, 1, 3
- C4, 2, 3, 1
- D4, 3, 2, 1
How the community answered
(49 responses)- A2% (1)
- B6% (3)
- C80% (39)
- D12% (6)
Community Discussion
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