Examlex
Refer to the figure shown. Which statement is not supported by data shown in the figure?
Lockbox System
A service offered by banks to process payments quickly by having those payments mailed directly to a secure post-office box, from which the bank collects and deposits into the company's account.
Cheque Clearing
The process by which banks settle transactions made by cheques, transferring funds from the issuer's account to the payee's account.
Total Collection Time
The total time taken from issuing an invoice to the receipt of payment from customers.
Customer Cheques
Checks issued by customers as a method of payment for goods or services received.
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