Efficient Funds Management Attempts to Reduce Mailing and Clearing Time

question 15

Multiple Choice

Efficient funds management attempts to reduce mailing and clearing time. Two methods do this by:

• A) moving collections and deposits closer together in concentration banks; and moving surplus funds quickly by wire transfers.
• B) moving mailing points to cross country locations and using depository drafts to transfer funds.
• C) drawing checks against zero balance accounts and using cross country mailing.
• D) wiring funds to zero balance accounts and using lockboxes in many cities.

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Definitions:

Verbal Phrase

A verbal phrase is a group of words expressing an action or a state of being, often used in mathematics to translate words into algebraic expressions or equations.

Divided

A mathematical operation where one quantity is evenly distributed into parts or groups.

Algebraic Expression

A combination of variables, numbers, and at least one arithmetic operation, without an equality sign.

Rectangle

A quadrilateral with four right angles and opposite sides that are parallel and equal in length.