Lockbox arrangements are one way for a firm to speed up its collection of payments from customers.

Name: Lockbox arrangements are one way for a firm to speed up its collection of payments from customers.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

Lockbox arrangements involve setting up a special mailbox or P.O. box where customers can send their payments directly to the firm's bank, bypassing the need for the firm to physically receive and deposit the checks. This can help speed up the collection process and improve cash flow for the firm.

Lockbox Arrangements Are One Way for a Firm to Speed