List the Various Types of Sales Promotions

question 12

Essay

List the various types of sales promotions. What are the objectives of each type?

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Definitions:

Managing Receivables

The process of overseeing and collecting amounts owed to a company by its customers to ensure timely payments and maintain healthy cash flows.

Extended Credit

An arrangement allowing customers to purchase goods or services on account and pay for them at a later date, beyond the standard billing period.

Uncollectible Notes

Loans or promissory notes that have been deemed uncollectible by the creditor due to the borrower's inability to pay.

Bad Debts Expense

Bad debts expense represents the estimated amount of accounts receivable that a company does not expect to collect due to customers' inability to fulfill payment obligations.