Which one of the following statements is correct concerning zero-balance accounts?
A) Zero-balance accounts are no longer legal in Canada.
B) Zero-balance accounts are used for depositing incoming funds.
C) A master account must be used in conjunction with a zero-balance account.
D) Zero-balance accounts are used solely in conjunction with a lockbox system.
E) Zero-balance accounts are still required to maintain a minimal balance.
Correct Answer:
Verified
Q253: Zero balance accounts are commonly used:
A) As
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A) Ignores the opportunity costs
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Q261: Lockboxes are used to:
A) Distribute payroll cheques.
B)
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