Copyright

Cash Collection & Concentration: Definition & Components

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

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

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 75,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

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?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

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
Support