The primary objective in controlling cash collections is to reduce the delay between the time when the

Question:

The primary objective in controlling cash collections is to reduce the delay between the time when the customer mails the payment and when it becomes a collected balance. Methods for reducing collection time include decentralized collection centers and concentration banks, lockboxes, wire transfers, depository transfer checks, special handling of large remittances, and the use of preauthorized checks.: LO1

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: