A system where customers send their checks directly to the company's bank account is described as which of the following?
A) An encryption system
B) An imprest system
C) A lock-box system
D) A firewall system

Question

Quizplus · Accepted Answer

A lock-box system is where customers send their checks directly to a designated post office box which is controlled by the company's bank. The bank then processes the checks and deposits the money directly into the company's account. This helps to improve efficiency and reduce the time taken for the company to receive and process payments.

A System Where Customers Send Their Checks Directly to the Company's