Collection float in general has decreased over the past several years. Explain some of the recent developments that have contributed to this change.

This question asks students to think about the "real world" and how the payment for goods and services has changed. The key developments include the introduction of debit cards, pay-as-you-go systems, and financial electronic data interchange (FEDI), including the ability of vendors to present cheques for payment using electronic means rather than physical cheque presentation.