Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Checks usually

Question

QveST [7]

2 years ago

7

Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Checks usually

take about three days to clear the firm's account. _____ is the advantage gained during the check-clearing time.

Business

1 answer:

UNO [17] · Answer 1 · 2023-05-30T07:56:47+03:00

Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Float is the advantage gained during the check-clearing time.

<h3>What is float?</h3>

Generally, The float is money in the banking system that is momentarily counted twice owing to time delays in reporting a deposit.

In conclusion, the advantage gained during the check-clearing time is called float