The Immediate Use, or Same Day Value, of Collections by Larger

question 36

Multiple Choice

The immediate use, or same day value, of collections by larger Canadian firms is facilitated by:

• A) Setting up a concentrator account with a chartered bank.
• B) Setting up a lockbox agreement.
• C) Using debit cards rather than credit cards.
• D) Mailing the collection cheques immediately to the firms' headquarters.
• E) Setting up a trustee account with an investment bank.