Examlex
Which of the following statements is true?
Checks
Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a designated entity.
Average Payments
The mean amount paid over a defined period payments.
Average Daily Float
The average amount of uncollected funds represented in checks or other negotiable instruments over a specified period.
Lockbox System
A service provided by banks to accelerate collection of payments by having those payments sent to a special post office box rather than to the company.
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