The most common cash management technique used to speed up collections is
A)wire transfers.
B)lockboxes.
C)in-house processing.
D)SWIFT.

Question

Quizplus · Accepted Answer

The most common cash management technique used to speed up collections is lockboxes. This refers to a service provided by a bank where they receive the company's payments directly and process them quickly, speeding up the time it takes for funds to reach the company's account. This can help reduce the risk of late payments and improve the company's cash flow. Wire transfers and SWIFT are types of electronic funds transfers that can be used for faster payments, but they are less commonly used for collections. In-house processing involves the company handling the payment processing themselves which may not necessarily speed up collections.

The Most Common Cash Management Technique Used to Speed Up