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A group of children who typically enjoyed drawing and painting were told that they could earn tokens if they drew and painted pictures of the researcher. They would earn 5 tokens per piece they produced. Overtime, the children who created pieces of art for tokens
Cash Collections
The process of receiving and managing payments from customers for goods or services provided.
Accounts Receivable
Money owed to a company by its customers for goods or services delivered but not yet paid for.
Zero-Based Budgeting
A budgeting method where all expenses must be justified for each new period, starting from a "zero base," rather than just adjusting previous budgets.
Cash Budget
An estimate of cash inflows and outflows over a specific period, used to manage and plan for cash needs.
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