Final answer:
The AR master file address is not a postal address for check collection; instead, it refers to a database containing accounts receivable information for managing a company's receivables.
Step-by-step explanation:
The statement that the AR master file address is a postal address maintained by the firm's bank, used solely for the purpose of collecting checks, is false. The AR master file, or Accounts Receivable master file, typically refers to a digital or physical database maintained by a company that contains all information regarding its accounts receivable. This includes details about customers, credit terms, and outstanding invoices, rather than being a postal address for check collection. The purpose of this file is to keep track of amounts owed to the company by its clients or customers so that they can manage their receivables efficiently.