The Main Purpose of a Cash Concentration Account Is To

question 79

Multiple Choice

The main purpose of a cash concentration account is to:

• A)decrease collection float.
• B)decrease disbursement float.
• C)consolidate funds.
• D)replace a lockbox system.
• E)cover compensating balance requirements.

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Definitions:

Empowered Teams

Groups given the authority and responsibility to make decisions and implement them within their areas of operation.

Associates

individuals with whom one is connected in a professional or personal capacity, often implying a degree of collaboration or mutual interest.

Sponsor

An individual or organization that supports a project, event, or individual, often providing funding or resources.

Lattice Structure

An organizational structure characterized by cross-functional and cross-hierarchical networks, allowing for more flexible coordination and communication than traditional hierarchies.