Collection


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Collection

The presentation of a negotiable instrument for payment, or the conversion of any accounts receivable into cash.

Collection

The act of receiving payment for goods or services. Collection occurs on the spot in a cash sale, while it may occur some weeks or even months later in a credit sale. See also: Accounts receivable, Collection policy.
References in classic literature ?
This shows the immense difficulty in preventing that species of traffic, where there is an inland communication, and places in a strong light the disadvantages with which the collection of duties in this country would be encumbered, if by disunion the States should be placed in a situation, with respect to each other, resembling that of France with respect to her neighbors.
It has been already intimated that excises, in their true signification, are too little in unison with the feelings of the people, to admit of great use being made of that mode of taxation; nor, indeed, in the States where almost the sole employment is agriculture, are the objects proper for excise sufficiently numerous to permit very ample collections in that way.
Remember that this is Jarley's stupendous collection of upwards of One Hundred Figures, and that it is the only collection in the world; all others being imposters and deceptions.
Nature and the Carstairs Collection had come to grips at last.
Very well; I packed and stored a part of my collection, and the rest of it I placed in the care of the Grand Ducal Museum i n Mannheim, by permission.
According to the view that I am suggesting, a physical object or piece of matter is the collection of all those correlated particulars which would be regarded by common sense as its effects or appearances in different places.
Dobson's own original work are a sufficient guarantee of the taste and discrimination we may look for in a collection like this, in which the random lightnings of the first of the essayists are grouped under certain heads--"Character Sketches," "Tales and Incidents," "Manners and Fashions," and the like--so as to diminish, for the general reader, the scattered effect of short essays on a hundred various subjects, and give a connected, book-like character to the specimens.
Spenser, however, soon outgrew this folly and in 1579 published the collection of poems which, as we have already said, is commonly taken as marking the beginning of the great Elizabethan literary period, namely 'The Shepherd's Calendar.
It is true, that the Confederacy is to possess, and may exercise, the power of collecting internal as well as external taxes throughout the States; but it is probable that this power will not be resorted to, except for supplemental purposes of revenue; that an option will then be given to the States to supply their quotas by previous collections of their own; and that the eventual collection, under the immediate authority of the Union, will generally be made by the officers, and according to the rules, appointed by the several States.
THE NEXT evening the astral lamp was lighted earlier than usual, because Laurence was very much engaged in looking over the collection of portraits which had been his New-Year's gift from Grandfather.
I call it the library now, but then we called it the bookcase, and that was what literally it was, because I believe that whatever we had called our modest collection of books, it was a larger private collection than any other in the town where we lived.
So completely did I break with my parsimonious past that I sent word home to my mother to call in the boys of the neighbourhood and give to them all my collections.