A Company Might Conduct Full-Scale Practice Drills,including Closing a Building

question 50

True/False

A company might conduct full-scale practice drills,including closing a building and working from a remote location,in order to test its contingency plans.

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Definitions:

Collection Time

The average period it takes for a business to receive payments owed by its customers for goods or services.

Cheques

Physical, written instruments instructing a bank to pay a specific amount of money from the writer's account to the person or entity named on the cheque.

Debit Cards

Payment cards that deduct money directly from a consumer's checking account to pay for a purchase, contrasting with credit cards which provide a line of credit.