A Lockbox Is A

question 20

Multiple Choice

A lockbox is a:

• A)special safe used by a firm for overnight storage of any cash or undeposited checks.
• B)special safe used by a firm that can only be opened at prespecified times of the day.
• C)box located in a bank's vault that is rented by a firm and used to hold unprocessed checks.
• D)special post office box which can only be opened by prespecified postal inspectors for direct delivery to the addressee.
• E)post office box strategically located so that a firm's receivables can be collected faster.

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Definitions:

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