Using a Lock-Box System

question 127

Multiple Choice

Using a lock-box system

• A) expedites the cash flow for a company.
• B) helps to reduce interest income lost due to delays in depositing out-of-state-checks.
• C) promotes the segregation of duties because a third-party handles cash receipts.
• D) All of these answers are correct.

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Definitions:

Cluster

A group of similar things or people positioned or occurring closely together.

Neural

Pertaining to neurons or the nervous system, involved in transmitting impulses throughout the body.

Glossopharyngeal

Relating to the ninth cranial nerve, which innervates parts of the tongue and pharynx, affecting taste and swallowing.

Sensory Information

Data received by sensory organs and transmitted to the brain for processing and interpretation.