Certified Treasury Professional Practice Exam

The correct choice involves accounting for clearings on non-controlled disbursement accounts, as this is essential for accurately projecting a company's closing cash position. When estimating the closing cash balance, cash managers need to consider various transactions that impact available cash.

Clearings on non-controlled disbursement accounts specifically reflect checks that have been issued but not yet cleared from the company's account. This means that the cash manager must track these outstanding checks to ensure that the available cash projected takes into account the actual funds tied up in pending transactions.

Estimating these clearings is crucial for maintaining a clear perspective on the liquidity position, as it directly affects the final cash balance that will be reported. Without proper accounting for these pending outflows, there could be an inaccurate representation of the organization’s cash availability, potentially leading to liquidity mismanagement.

While other options, such as ACH credits, lockbox receipts, and checks in the process of clearing, are also important considerations in cash management, they pertain to different aspects of cash inflows and outflows rather than the specific focus on pending disbursements in this context.