A lockbox system:
A) entails the use of a bank that is centrally located to collect payments on a nationwide basis.
B) is designed to deposit payments prior to recording those payments to the customers' accounts.
C) is used to reduce disbursement float.
D) is efficient regardless of the locations selected for lockbox destinations.
E) automatically records payments to customers' accounts as soon as the payments are received at the lockbox location.
Correct Answer:
Verified
Q2: Which one of the following collection times
Q3: Which one of the following enabled checks
Q4: Collection float:
A) is more desirable to companies
Q5: The cash used to make change when
Q6: Disbursements float:
A) occurs when a deposit is
Q7: GT Motors regularly issues short-term debt to
Q8: Which one of these statements is correct?
A)
Q9: Check kiting, or systematically overdrawing accounts, is:
A)
Q10: Float is defined as the:
A) amount of
Q11: Financial electronic data interchange (FEDI):
A) electronically processes
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