Cash Collection & Concentration: Definition & Components


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question 1 of 3

The collection time is the time that it takes for a business to do which of the following?

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1. Reducing the collection time is referred to as which of the following?

2. In the lockbox system, customers mail checks to which of the following?

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About This Quiz & Worksheet

Figure out how much you know about cash collection and concentration using the quiz/worksheet. To pass the quiz, you need to know about lockbox systems and the collection time.

Quiz & Worksheet Goals

Utilize these tools to check your understanding of the following topics:

  • Where customers mail checks to in the lockbox system
  • A con of the lockbox system
  • What consolidating funds into one account is called
  • Term for reducing the collection time
  • What the collection time is

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson on cash collection and concentration
  • Interpreting information - verify that you can read information about a con of the lockbox system and interpret it correctly
  • Information recall - access the knowledge you have gained about the meaning of collection time

Additional Learning

Cover more about these financial topics using the lesson named Cash Collection & Concentration: Definition & Components. You can cover the following tasks:

  • Review characteristics of the lockbox system
  • Understand why the collection time can vary for businesses
  • Identify the stages of collections