Which One of the Following Statements Is Correct Concerning a Cash

question 67

Multiple Choice

Which one of the following statements is correct concerning a cash management system that employs both lockboxes and a concentration bank account?

• A) All customer payments must be submitted to a lockbox.
• B) The party that collects the checks from the lockbox is responsible for recording the payments on the customer's accounts.
• C) Payments received in a lockbox are transferred immediately to the concentration account.
• D) A higher dollar return may be earned on short-term investments due to the cash management system.
• E) The concentration account must be zeroed out on a daily basis.

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Definitions:

Personality Disorders

Psychological conditions marked by persistent unhealthy patterns of thought, behavior, and emotional processing.

Mentally Ill

Refers to individuals who suffer from mental health disorders that affect their mood, thinking, and behavior.

Psychoanalysis

A therapeutic approach and theory of psychology developed by Sigmund Freud, focused on unconscious motives and conflicts.

Id

A component of the psychoanalytic theory representing the instinctual drives and the source of bodily needs, wants, desires, and impulses.