A Social Audit Can Be Thought of as

question 21

Multiple Choice

A social audit can be thought of as

• A) the first step in planning
• B) a narrow list of activities
• C) planning and control system
• D) a brief experimentation

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Definitions:

Average Collection Period

The average number of days it takes for a company to collect payments from its credit sales.

Collection Policy

The procedures and guidelines used by a company to monitor and manage the collection of debts owed to it.

Questionable Receivables

Accounts receivable that might not be collected due to issues like customer disputes or financial instability.

Budgeted Comparisons

The process of comparing budgeted financial forecasts with actual financial performance to identify variances and make adjustments.