A(n) ______ System Is an Arrangement That Permits a Customer's

question 59

Multiple Choice

A(n) ______ system is an arrangement that permits a customer's bank to periodically transfer funds from its account to a selling firm's bank account to pay an amount owed to the selling firm. 

• A)disbursement
• B)preauthorized debit
• C)lockbox
• D)concentration banking
• E)accounts payable

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Definitions:

Tax

A mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Diet Pepsi

A low-calorie carbonated soft drink produced by PepsiCo, branded as a healthier alternative to regular Pepsi.

Beverages

Drinkable liquids excluding water, such as tea, coffee, soda, and alcohol.

Corporate Taxation

The tax levied by governments on the profits earned by corporations, affecting their net income and financial decisions.