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.

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04-05-2022
Business

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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.

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-05-06T11:39:24+02:00

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.

What is float?

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