What Should You Do Before Buying a Used Car

question 12

Essay

What should you do before buying a used car?

Define different types of account setups in medical practices and understand their applications.

Identify the appropriate time to send an initial letter of inquiry for past due accounts.

Know the instances when treatment could be rendered as a professional courtesy and to whom.

Recognize the potential impact of accepting credit card payments on a medical practice’s cash flow and administrative processes.

---

Definitions:

GICs

Guaranteed Investment Certificates, a type of Canadian investment that offers a fixed return rate over a predetermined period.

Simple Interest

Interest determined exclusively on the original amount, or on the remaining amount of the principal that is not yet paid.

Financial Position

A snapshot of what a company owns and owes at a specific point in time, encompassing assets, liabilities, and equity.

Promissory Note

A Promissory Note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.