Which of these is most likely the fastest method of collecting cash?
A)Requiring customers to submit all payments to a lockbox
B)Requiring customers to submit all payments to the home office
C)Initiating a financial electronic data interchange at the time of sale
D)Offering customers credit terms of 1/5, net 15
E)Eliminating all disbursement float

Question

Quizplus · Accepted Answer

Initiating a financial electronic data interchange (EDI) at the time of sale is the fastest method as it allows for immediate electronic transfer of funds, reducing the time it takes to receive payment.

Which of These Is Most Likely the Fastest Method of Collecting