A System of Handling Cash Receipts by Mail Whereby Customers

question 123

Multiple Choice

A system of handling cash receipts by mail whereby customers send checks in payment of their accounts directly to a post office box controlled by a bank is a(n) :

• A)imprest system.
• B)lock-box system.
• C)phishing system.
• D)online banking system.

---

Definitions:

Technology Production

The process of designing, manufacturing, and introducing new technological goods or services.

Equilibrium Price

The cost at which the volume of goods available equals the volume desired by buyers in the market.

Equilibrium Quantity

The quantity of a good or service demanded and supplied at the equilibrium price, where market supply and demand balance each other.

Bushels

A unit of volume used primarily in agriculture to measure quantities of grain, fruit, or other produce.