Some Companies Use a Lockbox System,whereby Customers Mail Payments to a Post

question 85

Multiple Choice

Some companies use a lockbox system,whereby customers mail payments to a post office box address.The lockbox contents could be handled by a bank,another external organization,or the owner of the company.One of the advantages of using a lockbox is that it

• A)improves segregation of duties.
• B)results in more accurate bank deposits.
• C)results in more accurate accounts receivables.
• D)provides more detailed bank deposit information.