To minimize collection float, a firm should do which of the following? I. deposit its collections at least daily
II) make sure all checks it receives at the sales counter are properly dated and signed
III) pay its bills in a more timely manner
IV) eliminate its regional lockboxes and only have one central lockbox located near the firm's home office
A) I and II only
B) III and IV only
C) II, III, and IV only
D) I, II, and III only
E) I, II, III, and IV

Question

Quizplus · Accepted Answer

To minimize collection float, a firm should deposit its collections at least daily and ensure checks are properly dated and signed to avoid delays in processing.

To Minimize Collection Float, a Firm Should Do Which of the Following