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A firm finds that its customer base is growing in geographical terms and needs to reduce its collection float by obtaining checks from receiving locations
A firm finds that its customer base is growing in geographical terms and needs to reduce its collection float by obtaining checks from receiving locations near the customers, rather than having them send their checks directly to the firm's main office. This setup is called
a. Lockbox arrangement. | ||
b. Wire transfer arrangement. | ||
c. Cash concentration. | ||
d. Overnight mail. | ||
e. Compensating balance. |
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