The First Bank to Receive a Check for Collection Is

question 20

Multiple Choice

The first bank to receive a check for collection is the:

• A) depositary bank.
• B) drawee bank.
• C) payor bank.
• D) intermediary bank.

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Definitions:

Per-unit Cost

The cost incurred to produce, maintain, or sell one unit of a product or service, calculated by dividing total costs by the number of units.

Mixed Cost

A cost that contains both variable and fixed cost elements, making its total expense vary with activity level but not in direct proportion.

Maintenance Costs

Expenses associated with the upkeep of buildings, equipment, machinery, or vehicles to ensure proper functionality and efficiency.

Machine Hour

A measure of the amount of time a machine is operated, used in calculating manufacturing costs and efficiency.