Which one of the following will decrease a firm's collection time?
A) Encouraging customers to use debit cards rather than cheques.
B) Having payments from all locations mailed directly to the head office rather than to local post office boxes.
C) Recording payments to customer accounts before depositing the cheques.
D) Using a bank in a remote location as your primary bank.
E) Assigning a single employee to open the mail and prepare the deposits rather than using a team approach.
Correct Answer:
Verified
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