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:

Public Funds

Resources collected by government bodies through taxation, fees, fines, and other means, intended for public use and expenditure.

White-collar Crime

Non-violent crime committed by individuals or corporations in the course of their professional lives, often involving financial deception.

Operating Activities

The core activities of a business that relate to providing goods and/or services, generating revenue, and incurring expenses.

Goods and Services

Goods and services encompass all the physical products (goods) and activities (services) that can be offered in an economy for purchase.