Asked by Waleed Abdullah on Jul 18, 2024
Verified
Over-the-counter collections help reduce collection float.
Collection Float
The time interval between when a check is deposited in a bank and when the funds are made available.
- Identify the significance of initial and direct payment collections in minimizing the overall duration of collections.
Verified Answer
KS
Krissa SudtangthumJul 24, 2024
Final Answer :
True
Explanation :
Over-the-counter collections allow for immediate or faster deposit of checks or cash into a bank account, reducing the time it takes for funds to become available and thus reducing collection float.
Learning Objectives
- Identify the significance of initial and direct payment collections in minimizing the overall duration of collections.