Asked by Claudia Holton on May 30, 2024
Verified
Which term refers to the time it takes for a check to go through the traditional check-clearing process and be paid?
A) Delay
B) Float
C) Defer
D) Hold over
E) Shelve
Check-clearing Process
The method through which banks collect and settle the amount of a check, transferring funds from one account to another.
- Comprehend the roles and responsibilities of parties involved in negotiable instruments.
Verified Answer
AA
abdallah abdelraoufJun 02, 2024
Final Answer :
B
Explanation :
Float is the correct term, referring to the time period between when a check is written and when the bank settles the transaction by transferring funds from the check writer's account to the recipient's account.
Learning Objectives
- Comprehend the roles and responsibilities of parties involved in negotiable instruments.