If an Account Is ____ Days Past Due, Send a Letter

question 141

Multiple Choice

If an account is ____ days past due, send a letter explaining that unless you hear from the patient by a specific date, the account will be given to a specific collection agency for collection.

• A) 15
• B) 30
• C) 60
• D) 90
• E) 120

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Definitions:

Common Stock

A type of security that represents ownership in a corporation and entitles its holder to a share of the company's profits through dividends and/or capital appreciation.

Face Value

The nominal value or dollar value stated on a financial instrument, such as a bond or stamp.

Dollar Amount

A monetary value stated in terms of the currency unit of the United States, the dollar.

Interest Earned

The income received from an investment, usually expressed as an annual percentage of the principle.