Which of the Following Is the Best Definition of Lockboxes

question 272

Multiple Choice

Which of the following is the best definition of lockboxes?

• A) The need to hold cash to take advantage of additional investment opportunities, such as bargain purchases.
• B) Much like an automated teller machine card; one use is within corporations to control access to information by employees
• C) Bank makes proceeds of cheques deposited available the same day before cheques clear.
• D) The need to hold cash as a safety margin to act as a financial reserve.
• E) Special post office boxes set up to intercept and speed up accounts receivable payments.

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Definitions:

Employer-Paid Retirement Program

A retirement benefit plan funded by an employer that provides income to employees after their retirement.