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

---

Definitions:

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply in the market.

Bumper Crops

Exceptionally large harvests of crops, usually resulting from favorable growing conditions.

Gross Incomes

The total income received before any deductions or taxes are subtracted.

Price Elasticity

An indicator of the degree to which the demand for a product is affected by fluctuations in its price, showing how sensitive buyers are to variations in cost.