Which statement is correct? A. Firms prefer to increase processing delay on disbursements. B. Firms open regional offices so their employees can pick up lockbox payments throughout the day. C. The Check Clearing Act for the 21st Century is designed to reduce total collection time to one day. D. Firms cannot use lockboxes if they use cash concentration accounts.
Which statement is correct? A. Firms prefer to increase processing delay on disbursements. B. Firms open regional offices so their employees can pick up lockbox payments throughout the day. C. The Check Clearing Act for the 21st Century is designed to reduce total collection time to one day. D. Firms cannot use lockboxes if they use cash concentration accounts.
Pkg Acc Infor Systems MS VISIO CD
10th Edition
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:Ulric J. Gelinas
Chapter11: The Billing/accounts Receivable/cash
receipts (b/ar/cr) Process
Section: Chapter Questions
Problem 2SP
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Which statement is correct?
A. Firms prefer to increase processing delay on disbursements.
B. Firms open regional offices so their employees can pick up lockbox payments throughout the day.
C. The Check Clearing Act for the 21st Century is designed to reduce total collection time to one day.
D. Firms cannot use lockboxes if they use cash concentration accounts.
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