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    Auditing and Assurance Services Study Set 1
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    Exam 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
  5. Question
    Some Companies Have Customers Send Payments Directly to a Post
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Some Companies Have Customers Send Payments Directly to a Post

Question 50

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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