Cash held in reserve for unforeseen needs are defined as (select one)

a. precautionary balances

b. compensating balances

c. transactional balances

d. speculative balances

A lockbox is (select one)

a. where customers send their payments, the bank collects the payments and applies them to the customer's bank account.

b. a physical box where customers drop their payments

c. a type of lock used on a treasure chest

When a company places a large order for materials, the supplier may provide a price discount known as a (select one)

a. quantity discount

b. Patrick price discount

c. quality discount

d. preferred customer discount

This technology allows a company to scan and deposit physical checks into images from their office for overnight credit.

a. remote check scanner

b. preauthorized debits

c. smart safe

d. lockbox

Inventory includes all of the following types except: (select one)

a. finished goods

b. raw materials

c. work in process

d. forklift used to move in warehouse