A Customer Is Instructed to Send His Remittance Advice and Check

question 60

Multiple Choice

A customer is instructed to send his remittance advice and check to a bank's postal address. This method for collecting customer cash receipts is called:

• A) electronic funds transfer
• B) automated clearing house
• C) Check 21
• D) Lockbox

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Definitions:

Deontological Theory

A moral philosophy that evaluates the ethics of an action based on the action's adherence to rules or duties, regardless of the outcome.

Ethical Conduct

Behaviors and practices that comply with moral principles and professional standards, often guiding individuals and businesses in acting with integrity and fairness.

Self-Interest

Self-Interest describes actions or decisions motivated by personal gain, often without regard for others.

Moral Result

The outcome or impact of an action or decision judged according to ethical principles and moral values.