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According to the 2010 Report to the Nations on Occupational Fraud and Abuse, payroll frauds are the least costly type of fraudulent disbursement schemes.
Collection Time
The average period it takes for a business to receive payments owed by its customers after a sale has been made.
Lockbox System
A service provided by banks to companies for receiving payments from customers; payments are sent to a post office box and then quickly processed by the bank.
Money Market Securities
Money Market Securities are short-term debt instruments that are highly liquid and considered safe, such as Treasury bills, certificates of deposit, and commercial paper.
Collection Time
The average period it takes for a business to receive payments owed by its customers, reflecting the effectiveness of its credit and collection policies.
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