At the End of Each Business Day,Safe Company Sends Its

question 13

Multiple Choice

At the end of each business day,Safe Company sends its bank a list of all checks written during the day,including the check number,payee,and amount.When a check is sent to the bank for payment,the bank compares the payee and the amount with the list provided by Safe Company.This system is called

• A) Paychex.
• B) Pay-as-you-go.
• C) Positive pay.
• D) Pay master.

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Definitions:

Profits

The financial gain obtained when the revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Jeweler

A person or business that designs, makes, sells, and repairs jewelry and watches.

Clothing Store

A retail establishment that sells garments and apparel for individuals of all ages.

Housing Development

The process and business of developing land into residential properties, including homes and apartment buildings.