A Lockbox System Is Used to Reduce Collection Float by Shortening

question 119

True/False

A lockbox system is used to reduce collection float by shortening all three basic float components (i.e., mail, processing, and clearing).

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Definitions:

Karawynn Long

an author and blogger known for her work on personal finance and minimalism, but without widely recognized contributions outside these topics.

Shaping

A method of behavior training in which successive approximations towards a desired behavior are reinforced.

Observational Learning

A learning process through observing and mimicking the behavior of others.

Bandura's Theory

A psychological concept developed by Albert Bandura that emphasizes learning through observation and imitation of others' behavior.