Lockbox arrangements are one way for a firm to speed up collection of payments from customers.

Name: Lockbox arrangements are one way for a firm to speed up collection of payments from customers.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

Lockbox arrangements involve having customers send their payments to a designated post office box that is controlled by the firm's bank. The bank then collects the payments and deposits them directly into the firm's account, speeding up the payment collection process.

Lockbox Arrangements Are One Way for a Firm to Speed