[Question text] Which of the following statements is CORRECT? Select one: A. Instantaneous electronic funds transfer would only eliminate all types of float if the transaction occurs during normal business hours. B. The basic cost of collection float to the firm is the opportunity cost of not being able to use the cash. C. Collection float refers to an immediate increment in a firm’s available balance when a check is received. D. Float management only involves controlling a company’s collection of cash.

[Question text] Which of the following statements is CORRECT? Select one: A. Instantaneous electronic funds transfer would only eliminate all types of float if the transaction occurs during normal business hours. B. The basic cost of collection float to the firm is the opportunity cost of not being able to use the cash. C. Collection float refers to an immediate increment in a firm’s available balance when a check is received. D. Float management only involves controlling a company’s collection of cash.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 44P

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