How Are Checks That Are Deposited into a Typical Lockbox

question 61

Multiple Choice

How are checks that are deposited into a typical lockbox handled?

• A)The checks are deposited into a local bank which then overnights one check for the entire amount to the firm.
• B)The checks are collected once a day, normally in the early morning, by a bank employee.
• C)The checks are posted to the customer's account prior to being deposited.
• D)The checks are collected throughout the day and immediately deposited into the firm's account.
• E)The checks are collected and sent overnight to the firm's main office for processing.