Question
EXERCISE 6 : CASH FLOAT It takes fourr (4) days to process couchers and issue checks. From the date a check is issued, it takes
EXERCISE 6: CASH FLOAT
It takes fourr (4) days to process couchers and issue checks. From the date a check is issued, it takes two (2) days to have it signed by the corporate signatories, ten (10) days on the average before they are claimed by suppliers, and (5) days for their deposit by suppliers and clearance in the banking system.
How long is the cash float? How would you break it down?
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The Handbook Of Equity Market Anomalies
Authors: Leonard Zacks
1st Edition
0470905905, 978-0470905906
