It Is Not True That

question 27

Multiple Choice

It is not true that:

• A) if the firm is too generous in extending credit bad debts will occur.
• B) if credit policies are too strict valuable customers may be lost.
• C) a credit report from a credit rating agency is an important method of checking on customer's credit history.
• D) generally firms offer too much credit to customers.

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Definitions:

Ethical Codes

A set of guidelines designed to help professionals conduct their business with integrity and honesty.

Mental Health

Refers to a person's state of psychological well-being and the absence of any mental illness, affecting their emotions, behaviors, and social interactions.

Informed Consent

A process by which a person voluntarily confirms their willingness to participate in a particular activity, after having been informed of all the risks, benefits, and alternatives.

Ethical Decision-Making Model

A structured approach to solving ethical dilemmas, involving the identification of ethical issues, consideration of alternatives, and selection of the most ethical action.