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 disbursement float
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Step 1
Disbursement float is a technique by which entity manages the cash as when a firm disburses the cheque, it reduces the balance from the cash ledger but balance in the firm’s account has not been debited yet and it is not received by the party to whom payment is made. This process takes time because of the clearing of the bank systems.
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