Sweep account refers to:
A) an account that sweeps cash from checking to personal savings.
B) an account that sweeps zero balance account to an interest bearing account.
C) an account that allows the small business owner to sweep funds between personal and business accounts.
D) All of the above
Answer: B
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Uncle's Caps, Inc, a merchandising company, has provided the following budgeted amounts for the next budget period
Beginning cash balance $30,400 Cash collections 683,000 Payments for: Purchases of merchandise inventory 349,400 Selling and administrative expenses 70,700 Capital expenditures 88,600 A minimum cash balance of $250,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. A) $713,400 B) $254,700 C) $204,700 D) $733,000
The myopic view of values emphasizes that companies view value creation as something that happens in a bubble that includes only the company and its customers
Indicate whether the statement is true or false