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With respect to a lockbox system of cash collections, which one of the following statements is correct? Multiple Choice Mailing time is reduced while the
With respect to a lockbox system of cash collections, which one of the following statements is correct?
Multiple Choice
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Mailing time is reduced while the collection time remains constant.
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Electronic lockboxes have totally replaced traditional lockbox systems.
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Checks can be deposited prior to the payments being applied to the customers accounts.
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Mailing time is reduced but the processing delay is increased.
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Checks are held by the bank until the payee firm approves them to start the check-clearing process.
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