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Which of the following statements is false? 1)Float, when applied-(Answered)

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Question

Which of the following statements is false?


1)Float, when applied to cash receipts, is the time between the payment by a customer and the availability of funds on deposit and available for use. 2)A(n) remittance location is a postal address, maintained by a third party--typically a bank--which is used solely for the purpose of collecting checks. 3)There are two types of electronic bill presentment and payment (EBPP) systems the biller direct method and the consolidation/aggregation method. 4)Organizations should reconcile their bank account on a regular basis to ensure that valid deposits are recorded correctly. 5)A(n) remittance advice is a business document used by the payer to notify the payee of the items being paid.


 

Paper#9209510 | Written in 27-Jul-2016

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