How Are Checks That Are Deposited into a Typical Lockbox

question 61

Multiple Choice

How are checks that are deposited into a typical lockbox handled?

• A)The checks are deposited into a local bank which then overnights one check for the entire amount to the firm.
• B)The checks are collected once a day, normally in the early morning, by a bank employee.
• C)The checks are posted to the customer's account prior to being deposited.
• D)The checks are collected throughout the day and immediately deposited into the firm's account.
• E)The checks are collected and sent overnight to the firm's main office for processing.

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Definitions:

Extinguish Misbehavior

The process of using behavioral modification techniques to reduce or eliminate undesired behaviors by removing the reinforcement that maintains the behavior.

Systematic Desensitization

A therapeutic technique used to gradually reduce phobia or anxiety through controlled exposure to the feared object or situation in conjunction with relaxation exercises.

Involuntary Learning

The process of learning that occurs without the intention to learn, often reflexively or as a result of exposure to stimuli.

Automatic Learning

The unconscious assimilation of knowledge or skills through exposure and practice without explicit effort.