A company can use a lock-box system to reduce the float time of customer payments.

Name: A company can use a lock-box system to reduce the float time of customer payments.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A lock-box system accelerates the collection and processing of accounts receivable by having customers send payments directly to a bank or a post office box, reducing the time it takes for a company to receive and access the funds.

A Company Can Use a Lock-Box System to Reduce the Float