Cash concentration is best defined as:
A)combining an entire firm's daily receipts into one bank deposit.
B)combining a week's worth of cash receipts into one bank deposit.
C)combining cash from multiple bank accounts into a firm's main bank accounts.
D)using multiple lockboxes for collecting cash payments.
E)combining a firm's bills so that disbursement checks are mailed only monthly.

Question

Quizplus · Accepted Answer

Cash concentration involves consolidating cash from multiple bank accounts into a firm's main bank accounts to optimize cash management and control.

Cash Concentration Is Best Defined As