Asked by Elizabeth Gossum on Jul 12, 2024
Verified
Adding additional staff in the mornings for mail and payment processing should help reduce the total collection time for your firm.
Additional Staff
The employment of extra personnel beyond the current number to meet increased demands or to fulfill specific roles within an organization.
Total Collection Time
The total period it takes for a business to convert its accounts receivable into cash.
- Determine the elements and tactics influencing the collection float.
Verified Answer
DE
David EdwardsJul 16, 2024
Final Answer :
True
Explanation :
Adding more staff during peak processing times, such as mornings for mail and payment processing, can help distribute the workload more effectively, leading to faster processing times and reduced total collection time for the firm.
Learning Objectives
- Determine the elements and tactics influencing the collection float.
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