Which of the following will reduce collection time?
I.billing customers electronically rather than by mail
II.accepting debit cards but not checks as payment for a sale
III.offering cash discounts for early payment
IV.reducing the processing delay by one day

Question

Quizplus · Accepted Answer

All the options listed contribute to reducing collection time. I. Billing customers electronically speeds up the invoice delivery process. II. Accepting debit cards ensures immediate payment, unlike checks which can take days to clear. III. Offering cash discounts for early payment incentivizes customers to pay sooner. IV. Reducing processing delays directly decreases the time between sale and payment collection.

Which of the Following Will Reduce Collection Time