The First State or Territory in the U

question 95

Multiple Choice

The first state or territory in the U.S.to make moves toward compliance with the Supreme Court's ruling in Brown v.Board of Education was

• A)Texas.
• B)South Carolina.
• C)Virginia.
• D)Washington, DC.

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Definitions:

Lockbox System

A lockbox system is a banking service used by companies to expedite the collection and processing of accounts receivable by having checks mailed directly to a bank-operated address.

Collection Time

The average period that it takes for a business to receive payments owed, in terms of receivables, from its customers and clients.

Preauthorized Payments

Financial arrangements allowing a payee to automatically withdraw money from a payer's bank account for recurring bills or subscriptions.

Collection Time

The duration it takes for a business to receive payments owed by its customers.