AFP
CTP · Question #558
(Topic 6) Which of the following statements is true about lockbox network systems?
The correct answer is D. Consolidated remittance data are generated from multiple collection points. See the full explanation below for the reasoning.
Question
- (Topic 6)
Which of the following statements is true about lockbox network systems?
Options
- ALocal operating units receive funds over the counter and prepare deposits.
- BA company processes and prepares its own deposits.
- CA bank or third party receives, processes, and deposits currency primarily.
- DConsolidated remittance data are generated from multiple collection points.
How the community answered
(52 responses)- A6% (3)
- B13% (7)
- C4% (2)
- D77% (40)
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