Which of the following statements is false?
A) The check and remittance advice trigger the receive payment process.
B) A bank lockbox provides more protection for cash than a system where cash receipts are mailed to the payee company and then deposited.
C) Good funds are funds on deposit and available for use.
D) From the standpoint of reducing the collector's float, a customer check is a better payment method than a debit card.

Question

Quizplus · Accepted Answer

From the standpoint of reducing the collector's float, a customer check is NOT a better payment method than a debit card as debit cards are processed immediately while checks take time to clear, causing delay in the availability of funds.

Which of the Following Statements Is False