Is a Technique Used to Reduce Float by Having Payments

question 55

Multiple Choice

is a technique used to reduce float by having payments sent to post office boxes located near the customer.

• A)Postal deposit system
• B)Preauthorized debit system
• C)Concentration banking
• D)Lockbox arrangement
• E)Zero-balance account

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Definitions:

Credit Bureau

An agency that collects and maintains individual credit information, providing credit reports to creditors to aid in the decision-making process.

Cease-And-Desist

A legally enforceable order issued by a court or government agency directing a person or entity to stop an alleged illegal activity.

Fair Credit Reporting Act

Federal law that regulates the collection, dissemination, and use of consumer credit information, ensuring accuracy, privacy, and fairness.

Federal Trade Commission

A government agency established in 1914 to prevent unfair business practices and promote consumer protection.