A lock-box system:
A)prevents unauthorized access to cash.
B)slows down the time it takes to deposit cash to the bank.
C)is more susceptible to fraud, since employees of the company have access to the cash.
D)can only be used by very large companies.

Question

Quizplus · Accepted Answer

A lock-box system is intended to prevent unauthorized access to cash, typically by limiting access to the cash to only a few trusted individuals within the company. This can help to reduce the risk of theft or fraud, while also ensuring that cash is properly safeguarded until it can be deposited in the bank. While a lock-box system may involve some additional time and expense in setting up and maintaining the system, the benefits of heightened security and reduced risk may justify these costs.

A Lock-Box System