An Arrangement in Which Customers Mail Their Payments on Account

question 32

Multiple Choice

An arrangement in which customers mail their payments on account to a post office box which the company's bank monitors,from which it collects the payments,and then immediately deposits the payments into the firm's interest-bearing account is called a:

• A)zero balance account.
• B)lockbox.
• C)sweep account.
• D)credit reference.

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Definitions:

Unimodal

Describing a distribution with a single peak or mode.

Stem-And-Leaf Display

A graphical method of displaying quantitative data to show its distribution, using digits to represent the stems and leaves.

Annual Precipitation

The total measure of rainfall and other forms of precipitation, such as snow, that fall in a given area over the course of a year.

Millimetres

A unit of length in the metric system equal to one thousandth of a metre.