Question

A hybrid lockbox is defined as a lockbox that processes both _____________.

A) Paper checks and electronic payments
B) Credit card transactions and wire transfers
C) Invoices and purchase orders
D) Cash and digital currencies

Answer 1

A hybrid lockbox is a lockbox that processes both paper checks and electronic payments. It combines traditional paper-based payment methods with electronic methods, allowing businesses to receive payments using different payment methods.

Step-by-step explanation:

A hybrid lockbox is defined as a lockbox that processes both paper checks and electronic payments. It combines traditional paper-based payment methods like checks with electronic methods like online transfers and digital payments. This allows businesses to receive payments from customers using different payment methods, increasing convenience and efficiency.