An Account into Which Funds Are Deposited Only in an Amount

question 96

Multiple Choice

An account into which funds are deposited only in an amount equal to the value of the checks presented for payment that day is called a ________ account.

• A) lockbox
• B) concentration
• C) zero-balance
• D) compensating balance
• E) revolving

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Definitions:

Comparative Negligence

A legal doctrine used to allocate damages when both parties are at fault, based on the degree of each party's negligence.

Apportions Damages

The process of dividing up and assigning responsibility for monetary compensation among different parties in a legal case.

Degree of Fault

The level of responsibility or negligence attributed to each party involved in a legal matter or accident.

Strict Liability

A legal doctrine that holds individuals or entities liable for damages and harm caused by their actions, regardless of fault or intention.