A Lockbox Plan Is

question 72

Multiple Choice

A lockbox plan is

• A) used to protect cash,i.e. ,to keep it from being stolen.
• B) used to identify inventory safety stocks.
• C) used to slow down the collection of checks our firm writes.
• D) used to speed up the collection of checks received.
• E) used primarily by firms where currency is used frequently in transactions,such as fast food restaurants,and less frequently by firms that receive payments as checks.

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Definitions:

Cohabit

To live together in a shared dwelling, typically referring to a couple who are not legally married.

Traditional Views

Perspectives or beliefs that emphasize values, practices, and norms established and maintained over long historical periods, often resistant to change.

Polygamy

Marriage in which a person has more than one spouse and is permitted sexual access to each of them.

Spouse

A partner in a marriage or committed romantic relationship.