Firms that receive a large volume of checks use the following to speed up availability of funds:
A)concentration banking.
B)retail banking.
C)money market deposit account.
D)None of these options are correct.

Question

Quizplus · Accepted Answer

Concentration banking involves centralizing funds from multiple locations into a single account, allowing for quicker processing and availability of funds. This is particularly useful for firms that receive a large volume of checks. Retail banking and money market deposit account are not specific strategies for improving availability of funds from check deposits.

Firms That Receive a Large Volume of Checks Use the Following