An Account into Which a Firm Transfers Funds,usually from a Master

question 53

Multiple Choice

An account into which a firm transfers funds,usually from a master account,in an amount sufficient to cover the checks presented for payment that day is called a _____ account.

• A)lockbox
• B)cleanup
• C)compensating balance
• D)revolving
• E)controlled disbursement

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Definitions:

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