A Customer Is Instructed to Send His Remittance Advice and Check

question 60

Multiple Choice

A customer is instructed to send his remittance advice and check to a bank's postal address. This method for collecting customer cash receipts is called:

• A) electronic funds transfer
• B) automated clearing house
• C) Check 21
• D) Lockbox

Understand retrieval as the process of accessing stored information.

Recognize the information-processing model of memory and its comparison to computer processing.

Understand the importance and techniques of memory enhancement, such as chunking.

Acknowledge the influence of cognitive psychology research on understanding memory processes.

---

Definitions:

Alternative-Choice Close

A sales technique where the salesperson presents the potential buyer with two choices, both leading to a sale, in an effort to close the deal.

Buying Decision

The process of evaluating and choosing from available alternatives to purchase a product or service.

Question Close

A sales strategy that involves closing a deal by asking the customer a question that assumes the sale has been made.

Purchase Manager

An individual responsible for acquiring goods and services for their organization at the best possible price.