Which of These Practices Will Reduce a Firm's Collection Float

question 96

Multiple Choice

Which of these practices will reduce a firm's collection float?
I.Installing a lockbox system
II.Utilizing zero-balance accounts
III.Depositing checks daily rather than weekly
IV.Reducing the processing delay by one day

• A)I and III only
• B)II and IV only
• C)I, II, and III only
• D)I, III, and IV only
• E)I, II, III, and IV

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Definitions:

Clear Insulin

A type of insulin that is transparent and fast-acting, used for controlling blood sugar levels in individuals with diabetes.

Document Medications

The practice of accurately recording the details of drugs administered to a patient, including dosage, timing, and route of administration.

Administration

The management or direction of the operations of an organization or the process of administering drugs or treatments.

Legally Required

A mandate enforced by law, which necessitates compliance with specific regulations, standards, or procedures.