Lockbox Arrangements for the Collection of Cash Have Which of the Following

question 85

Multiple Choice

Lockbox arrangements for the collection of cash have which of the following as an advantage?

• A)The manual processing associated with maintaining control of the receipts is now shifted to a computer.
• B)Cash is deposited directly into the bank.
• C)The bank usually establishes only one lockbox geographically next to the client to minimize delay in collections.
• D)Eliminates the customer decision for the due date of payment.

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Definitions:

Cerebral Cortex

The outer layer of the brain, involved in complex cognitive processes like thought, memory, and decision-making.

Aphasia

A condition characterized by the loss of the ability to understand or express speech, caused by brain damage.

Broca's Area

A region in the frontal lobe of the dominant hemisphere, usually the left, associated with speech production.

Wernicke's Area

Wernicke's Area is a brain region responsible for the comprehension of speech and language processing.