AFP
CTP · Question #561
(Topic 6) The term "collection float" is defined as the delay between the time the payor:
The correct answer is D. mails the check and the payee receives the available funds. See the full explanation below for the reasoning.
Question
- (Topic 6)
The term "collection float" is defined as the delay between the time the payor:
Options
- Aprepares the check and the payee deposits the check.
- Bmails the check and the payee deposits the check.
- Cmails the check and the check is charged to the payor's account.
- Dmails the check and the payee receives the available funds.
How the community answered
(24 responses)- A13% (3)
- B8% (2)
- C4% (1)
- D75% (18)
Community Discussion
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