FLOAT is 1. the time between the deposit of checks in a bank and when the amount is truly accessible; 2. the amount of funds represented by checks that have been written but not yet presented for payment. Some entities will play the float by writing checks although there are insufficient funds actually on deposit to cover the checks; and, 3. total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more. Also called publicly held shares.
DEPRECIATION METHOD see DEPRECIATION.
RECOURSE, in finance, is the right to demand payment from the maker or endorser of a negotiable instrument (as a check). See RECOURSE NOTE.
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