In a Lock-Box System ________

question 139

Multiple Choice

In a lock-box system ________.

• A) customers send their checks directly to a post office box that belongs to the company
• B) there is a delay in getting the cash into the company's bank account
• C) a bank employee empties the box daily and records the deposits into the company's bank account
• D) a bank employee records the journal entry

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Definitions:

Human Resource Planning

The continuous process of systematically planning to achieve optimum use of an organization's most valuable asset—its human resources.

HR Forecasting

The process of estimating future human resources needs based on various business plans and projections.

Demand Requirements

The specific needs or quantities of products or services that the market or a specific customer base requests over a certain period.

HR Plans

Strategic blueprints developed by human resources to recruit, develop, and retain the workforce necessary for organizational objectives.