Over-the-counter collections help reduce collection ﬂoat.

Name: Over-the-counter collections help reduce collection ﬂoat.
Brand: Quizplus
Rating: 5.0 (62 reviews)

Question

Quizplus · Accepted Answer

Over-the-counter collections refer to payments made directly to the company at their physical location. By accepting such payments, the company can reduce collection float, which is the time between when a payment is made and when it is deposited and made available to the company. Therefore, the statement is true.

Over-The-Counter Collections Help Reduce Collection ﬂOat