Question

_____ benefits the check writer by allowing it to retain the funds until the funds are actually withdrawn from its account. Group of answer choices Delayed funding Transfer financing Float Interest accrual Process financing

Answer 1

The benefit the check writer to retain the funds until the actual withdrawal is float.

What is float?

The float is the time lag between the check being written and when the funds that need to be paid are eventually transferred from the check writer's account to the beneficiary's account.

Compared to cash or instant payment, where the cash is given to the beneficiary on the spot, the check writer has an added advantage by being allowed time to make use of the funds in the account or being able to fund his account whose balance is currently insufficient before the date written on the check when it would be presented for value.

Delayed funding means the account needs to be funded at the time of issuing the check especially if the date of value is a future date, which means it is just one of the characteristics of float.

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