Which of the Following Statements Regarding a Lock-Box System Is

question 187

Multiple Choice

Which of the following statements regarding a lock-box system is incorrect?

• A) Customers send their checks directly to a post office box that belongs to the company.
• B) Internal control is tight because company personnel never touch incoming cash.
• C) A bank employee empties the box daily and records the deposits into the company's bank account.
• D) Cash is put into the company's bank account quickly.

---

Definitions:

Cross-sequential

A research method that combines both cross-sectional and longitudinal designs to study changes over time in a faster and more efficient manner.

Successive Cohort

Groups of individuals born in consecutive chronological segments, often studied to observe changes over time in a particular population.

Spatial Orientation

The ability to recognize and navigate the position and direction of oneself and objects in space.

Verbal Memory

The ability to remember and recall words and other verbal items; a component of cognitive functioning related to the processing and use of language.