A Customer Sends Payment to a Post Office Box Which

question 180

Multiple Choice

A customer sends payment to a post office box which is emptied by the firm's bank daily. The bank then processes the payments and notifies the firm of the day's collections. This collection technique is known as

• A) a direct send.
• B) concentration banking.
• C) the lockbox system.
• D) controlled disbursing.

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Definitions:

Humanistic Theories

A perspective in psychology that emphasizes the study of the whole person, looking at human behavior not only through the eyes of the observer but through the eyes of the person doing the behaving.

Collectivism

A cultural or political perspective valuing the goals of the group or community over the goals of the individual.

Extended Family

A family group that extends beyond the nuclear family, including grandparents, aunts, uncles, and cousins.

Culture Shock

A feeling of disorientation, uncertainty, or anxiety that often occurs when experiencing a new and unfamiliar culture.