Of These Methods of Collecting Reference Data, Which Is Used

question 125

Multiple Choice

Of these methods of collecting reference data, which is used most frequently?

• A)Telephone checks
• B)Internet and e-mail checks
• C)Mail checks
• D)Letters of recommendation

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Definitions:

Cash Receipts

This records the total amount of cash received by an entity within a specific period, from various sources including sales, loan proceeds, asset sales, etc.

Cash Received

Money that a business or individual takes in, often measured over a period to assess cash flow.

Customers on Account

Refers to the sales made by a business where the payment is to be received at a later date, recorded as accounts receivable.

Cash Account Balance

The amount of money that is available in a company's or individual's cash account at any given time.