The Procedures Followed by the Firm for Ensuring Payment on Its

question 107

Multiple Choice

The procedures followed by the firm for ensuring payment on its accounts receivables are called its ______________.

• A) Sales policy.
• B) Credit policy.
• C) Collection policy.
• D) Payables policy.
• E) Disbursements policy.

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Definitions:

Late Adults

Individuals in the later stages of adulthood, often considered to be those 65 years of age and older, focusing on retirement and the issues of aging.

Life Reviews

are reflective processes in which individuals recount and evaluate significant events and experiences of their lives.

Significance

The quality of being worthy of attention; importance.

The Elderly

A term referring to older adults, typically people over the age of 65, often used in the context of discussing their health, social, and economic issues.