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Question 5 (2 points) Which of the following is true of a lockbox? It is a box allocated to employees for keeping their valua
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Answer #1

Question 5 .

Lockbox service facility is provided by the commercial banks to facilates the business to business transaction .It reduces the mail float. It is used by real estate & property, manufacturing, utility billing where the transaction volumn through check is high . So , 2nd option is correct.

Question 6 .

Face value is defined as  the nominal value of a security which is stated by its issuer . Incase of bonds it is the amount paid to the holder at the time of maturity which is typically 1000$ .

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