Examlex

Solved

When Utilizing a Lockbox System, a Customer Typically Sends a Check

question 101

True/False

When utilizing a lockbox system, a customer typically sends a check to the bank, a bank employee picks up the check and processes the check electronically and then sends record of payment to the company's finance center.


Definitions:

Meeting With Clients

A scheduled gathering between a service provider or business representative and one or more clients to discuss services, products, or other business matters.

Activity Cost Pools

Groups of indirect cost resources that are allocated to products and services using a cost driver.

Legal Firm

A business that provides legal services and is staffed by lawyers.

Activity-Based Costing

A method of allocating overhead and indirect costs to specific products or projects based on their use of resources.

Related Questions