A firm can delay and favourably affect the control of its cash disbursements through the use of:

The correct answer is Zero balance accounts.

Key Points Zero Balance Account:

• A zero balance account (ZBA) is a cash management tool that allows a business to maintain a zero balance in its checking account by automatically transferring funds from a master account or a concentration account to cover any checks or other payments that are presented for payment.
• This enables the business to avoid maintaining excess balances in multiple checking accounts, while still ensuring that there are sufficient funds to cover its payments.
• By using ZBAs, a business can delay the disbursement of cash until the last possible moment without risking a bounced check or an overdraft.
• This can help the business to improve its cash flow management, as it can hold onto its funds longer and earn additional interest income.

Hence, the correct answer is Zero Balance Accounts.