The net effect of checks in the process of collection represents
a. payment float
b. availability float
c. net float
d. cash in hand
e. none of these
a. payment float
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Which one of the following statements is NOT true?
A) The classical model assumes that people suffer from money illusion. B) The classical model assumes that no single seller of a commodity can affect its price. C) The classical model assumes that pure competition exists. D) The classical model assumes that people are motivated by self-interest.
Edie looked at two apartments that were virtually identical except the one near the subway station was $1,800 a month and the one 10 blocks away was $300 less. What explains the difference in price?
a. The convenience of the train caused higher demand. b. The supply of apartments near the train was higher. c. The distant neighborhood was more desirable. d. Demand was higher in the less active neighborhood.
The period of 1973 to 1980 can best be described as a time of
A. deflation. B. reflation. C. unflation. D. stagflation. E. disflation.
If the government imposes a maximum price that is above the equilibrium price,
A. demand will be greater than supply. B. quantity demanded will be less than quantity supplied. C. this maximum price will have no economic impact. D. the available supply will have to be rationed with a nonprice rationing mechanism.