Answer the following statements true (T) or false (F)
1. When utilizing a lockbox system, a customer typically sends a check to the bank, a bank employee picks up the check and processes the check electronically and then sends record of payment to the company's finance center.
2. A lock-box is used by the selling corporation to speed up the check collection and check-clearing process.
3. "Extended disbursement float" has to do with the length of time a corporation takes to collect bills.
4. Cost-benefit is not a consideration in development of a cash management system, only safety and liquidity.
5. Electronic funds transfer will likely increase the use of float.
1. TRUE
2. TRUE
3. FALSE
4. FALSE
5. FALSE
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