How Are Checks That Are Deposited into a Typical Lockbox

question 61

Multiple Choice

How are checks that are deposited into a typical lockbox handled?

• A)The checks are deposited into a local bank which then overnights one check for the entire amount to the firm.
• B)The checks are collected once a day, normally in the early morning, by a bank employee.
• C)The checks are posted to the customer's account prior to being deposited.
• D)The checks are collected throughout the day and immediately deposited into the firm's account.
• E)The checks are collected and sent overnight to the firm's main office for processing.

---

Definitions:

Decoded

The process of translating encoded data or messages into a comprehensible format, making the information accessible and understandable.

Direct Marketing

A strategy that involves promoting products or services directly to consumers, bypassing traditional advertising channels.

Promotion Alternatives

Various strategies or methods a business can use to market its products or services, such as advertising, sales promotions, public relations, and direct marketing.

Public Relations

The practice of managing and disseminating information from an organization to the public to influence their perceptions.