A Common Cash Management Technique Used to Speed Up Collections

question 17

Multiple Choice

A common cash management technique used to speed up collections from a customer's bank account to a retailer's bank account is:

• A) a lockbox system.
• B) a mail float system.
• C) a point-of-sale system using debit cards.
• D) an in-house processing float system.
• E) an availability float system.

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Definitions:

Product Innovation

The creation of new products or significant improvements to existing products, often to meet new needs or market demands.

Product Innovation

The development and introduction of new or significantly improved goods or services.

Online Shopping

The act of purchasing products or services over the Internet from websites or mobile applications, enabling consumers to buy goods without visiting a physical store.

Competitive Advantage

Refers to a situation or factor that gives a business an advantageous or dominant position over its rivals in the market.