Which One of the Following Is a Disbursement Account into Which

question 20

Multiple Choice

Which one of the following is a disbursement account into which funds are transferred from a master account only as the funds are needed to cover checks presented for payment?

• A)Lockbox account
• B)Cash concentration account
• C)Ledger account
• D)Zero-balance account
• E)Cash clearing account

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Definitions:

Hourly Workers

Employees who are paid for each hour worked, as opposed to salaried workers who receive a set amount regardless of hours worked.

Salary Workers

Employees who are paid a fixed amount of money or remuneration on a regular basis, typically monthly or annually, not hourly.

Regular Earnings

Regular earnings refer to the normal income that an employee receives from their employer, including wages or salaries before deductions or bonuses.

Overtime Pay

Additional compensation provided to employees for hours worked beyond their standard working hours.