Multiple Choice
A customer sends payment to a post office box which is emptied by the firm's bank daily. The bank then processes the payments and notifies the firm of the day's collections. This collection technique is known as
A) the lockbox system.
B) concentration banking.
C) controlled disbursing.
D) a direct send.
Correct Answer:

Verified
Correct Answer:
Verified
Q51: Collection float is experienced by the payer
Q71: If the cash discount period is increased,
Q73: An increase in the average payment period
Q74: A firm's credit_ provides guidelines for determining
Q76: The three basic types of inventory are
Q77: A firm is considering relaxing credit standards
Q78: When managing accounts payable, a good strategy
Q79: In general, the more working capital a
Q103: A firm that is unable to pay
Q114: A decrease in collection efforts will result