Which statement is correct A. Firms Cabot use lockboxes if they use cash concentration accounts. B. Firms prefer to increase delay on disbursements. C. Firms prefer to eliminate all types of float. D. Firms open regional offices so their employees can pick up lockbox payments throughout the day. E. The check clearing act for the 21st century is designed to reduce total collection time to one day.
Which statement is correct A. Firms Cabot use lockboxes if they use cash concentration accounts. B. Firms prefer to increase delay on disbursements. C. Firms prefer to eliminate all types of float. D. Firms open regional offices so their employees can pick up lockbox payments throughout the day. E. The check clearing act for the 21st century is designed to reduce total collection time to one day.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which statement is correct
A. Firms Cabot use lockboxes if they use cash concentration accounts.
B. Firms prefer to increase delay on disbursements.
C. Firms prefer to eliminate all types of float.
D. Firms open regional offices so their employees can pick up lockbox payments throughout the day.
E. The check clearing act for the 21st century is designed to reduce total collection time to one day.
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