Lockbox arrangements may reduce mail float,processing float,and transit float.

Question

Quizplus · Accepted Answer

Lockbox arrangements involve payments being sent directly to a specified lockbox address, rather than being mailed to the company. This can reduce mail float (the time it takes for the payment to be received in the mail), processing float (the time it takes for the payment to be processed by the company), and transit float (the time it takes for the payment to be moved between different stages of processing). Therefore, the statement is true.

Lockbox Arrangements May Reduce Mail Float,processing Float,and Transit Float