QUESTION 19 The benefits of a lockbox arrangement with a bank are maximized when O the bank deposits the payments and accesses the customer's information system to record the payments O an arrangement is made with only one bank, so all remittance advices can be batched for processing. O the bank is located nearby to the company, so remittance advices can be delivered to the company every day several banks around the country are used in order to minimize the time payments spend in the mail. QUESTION 20 Which of the following is least likely to be a major criterion in vendor selection? O prices of goods O quality of goods O ability to deliver on time O credit rating of the vendor QUESTION 21 Checking the quantity of inventory available before accepting a sales order is a good practice for all of the reasons except to verify the accuracy of the perpetual inventory records determine which items may need to be back ordered. inform the customer about availability and delivery times. update inventory records to reduce the quantity available by the number of items ordered