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According to the Cognitive-Functional Approach to Language

question 34

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According to the cognitive-functional approach to language,


Definitions:

Collection Time

The average period that a company takes to collect cash from its credit sales.

Cheques

A document that is written, dated, and signed, which gives an absolute command to a bank to pay a specific amount of money to the recipient.

Bank Clearing Time

The process and time required for checks and other transactions to be processed through a bank or clearinghouse and the funds to become available.

Processing Time

The time required to complete a particular process, such as manufacturing or data processing.

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