__________ is a technique used to reduce float by having payments sent to post office boxes located near the customer.

Question

Quizplus · Accepted Answer

A lockbox arrangement involves having payments sent to post office boxes that are managed by the bank. The bank then collects these payments, processes them, and deposits the funds directly into the customer's account. This reduces float by accelerating the collection process and cutting down the amount of time it takes for funds to become available.

__________ Is a Technique Used to Reduce Float by Having