Some Companies Have Customers Send Payments Directly to a Post

question 50

Multiple Choice

Some companies have customers send payments directly to a post office box address maintained by a bank. This is called a(n) ________ system.

• A) direct deposit
• B) funds transfer
• C) lockbox
• D) interbank transfer

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Definitions:

Sensory Memory

The shortest-term element of memory, acting as a buffer for stimuli received through the senses, and is capable of holding a vast amount of information, but only for a very short period.

Implicit Memory

The type of memory that allows people to perform tasks without conscious awareness of the learning processes that led to them.

Explicit Memory

Explicit memory is a type of long-term memory that involves conscious recollection of factual information, previous experiences, and concepts.

Short-Term Memory

The part of the memory system where information is stored for a short duration, typically a few seconds to a minute.