Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Define collections float
Expert Solution
Step 1
Float:
Float is considering as money within the system of banking that is quickly counted two times due to period gaps in enrolling a deposit or withdrawal. These period gaps are normally due to the lag in handling paper checks. A bank credits a client's account as rapidly as a check is deposited. Though, it takes some time to obtain a check from the payer’s bank and recording it.
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