An arrangement where a bank receives customer payments through the postal system, scans the remittance advices, and transmits payment data to the business electronically is known as
A) e-commerce.
B) an electronic lockbox.
C) electronic funds transfer (EFT).
D) electronic data interchange (EDI).
Ans: B) an electronic lockbox.
Business
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In most acceptance sampling plans, when a lot is rejected, the entire lot is inspected and all defective items are replaced. When using this technique the AOQ:
A) worsens (AOQ becomes a larger fraction). B) improves (AOQ becomes a smaller fraction). C) is not affected, but the AQL is improved. D) is not affected. E) falls to zero.
Business
With 100/300/10 split auto liability limits, the maximum payout for property damage is
A) $10,000. B) $100,000. C) $300,000. D) $450,000.
Business