Lockbox Arrangements for the Collection of Cash Have Which of the Following

question 7

Multiple Choice

Lockbox arrangements for the collection of cash have which of the following advantages?

• A) The manual processing associated with maintaining control of the receipts is now shifted to a computer.
• B) Cash is deposited directly into the bank.
• C) The bank usually establishes only one lockbox geographically next to the client to minimize delay in collections.
• D) Eliminates the customer decision for the due date of payment.

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