Question

a.I currently work in the accounting field. My question for this discussion is regarding lockboxes. Lockboxes seem to have great benefits – reduced processing time and faster deposits. Has anyone worked for a company that uses lockboxes? Are they worth the fees?

b.Regarding the types of businesses that can be set up I have one question, Who sets the rules/laws for these? Is it the federal government, state government, some other entity, or a combination of all of the above?

Your answers must provide clear evidence of critical thinking.  Your answer add greater depth to the discussion by introducing new ideas.

Answer 1

Solution A

Lockboxes have great benefits of security and safety. Moroever they are digitised and offer online modifications options related to payments and withdrawal and can be upgraded with single mobile touch facilities and hence the benefits exceed its cost making it worth the fees.

Solution B

The rules are completely set up by Monetary policy Committee and Central banks in collaboration with inputs from central government officials. Sijce these changes are implemented on national scale and require great deal of compliance it is the sole right of central bank to manage rules and protocols.