Financial managers often recommend that firms pay their bills as late as possible and try to collect what they are owed as soon as possible.

Name: Financial managers often recommend that firms pay their bills as late as possible and try to collect what they are owed as soon as possible.
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This strategy is known as "managing float" and can help firms to maximize their cash flow and liquidity. However, it is important to balance this with maintaining good relationships with suppliers and customers.

Financial Managers Often Recommend That Firms Pay Their Bills as Late