IIA
IIA-CFSA · Question #127
At the end of the day all funds in a non-interest bearing checking account are cleared out and moved into a short-term investment account overnight. At the beginning of the next day, those funds are…
The correct answer is B. Sweep Accounts. See the full explanation below for the reasoning.
Question
At the end of the day all funds in a non-interest bearing checking account are cleared out and moved into a short-term investment account overnight. At the beginning of the next day, those funds are put back into the regular account for use that day. Such accounts are called:
Options
- AZero-balance accounts
- BSweep Accounts
- CLock Boxes
- DNone of these
How the community answered
(38 responses)- A5% (2)
- B82% (31)
- C11% (4)
- D3% (1)
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