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A collection center:

Looking for the answer to the question below related to Financial Management?

A collection center:

 Options:

A. involves using geographically disbursed centers to collect from non-paying customers
B. utilizes local banks to clear local payments made to the collection center
C. is lower in cost to the firm than a lockbox system
D. results in checks being forwarded to a P.O. box and clearing through local bank branches

 

The Correct Answer Is:

  • B. utilizes local banks to clear local payments made to the collection center

 

Conclusion

I hope you got the answer to your question.

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