Lock-box systems allow local banks to collect and process the firm's remittance from that area.

Name: Lock-box systems allow local banks to collect and process the firm's remittance from that area.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

Lock-box systems are used by local banks to collect and process a firm's remittance from a particular area. This helps to speed up the collection process and ensures that the funds are credited to the firm's account quickly.

Lock-Box Systems Allow Local Banks to Collect and Process the Firm's