The Presque Isle Center has branch operations in three states.Each branch deals with a local bank.However,all excess funds in these branch bank accounts are transferred on a daily basis to the firm's primary bank located near the firm's home office.This routine of transferring cash to the primary bank on a regular basis is referred to as:

Question

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The routine of transferring cash to a primary bank on a regular basis is known as cash concentration, which is aimed at consolidating cash from multiple branches to a central account for better management and control.

The Presque Isle Center Has Branch Operations in Three States