A sweep account is actually a grouping of two or more, Ask an Expert

Accounting

A sweep account is actually a grouping of two or more accounts at a bank. It is useful in managing a steady cash flow among a cash account where scheduled payments are made from and an investment account where the cash is able to acquire a higher return.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9534111

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