The checks received in a lockbox are deposited:
A)into a local bank and then transferred electronically to a concentration account.
B)into a local bank and immediately invested in short-term investments.
C)as soon as they are posted to the customer's account.
D)the following day and immediately invested.
E)directly into an investment account.

Question

Quizplus · Accepted Answer

Lockbox services are designed to speed up the collection and deposit of checks. Checks received in a lockbox are deposited into a local bank and then transferred electronically to a concentration account to optimize cash flow management.

The Checks Received in a Lockbox Are Deposited