A General Rule to Use in Assessing the Average Collection

question 59

Multiple Choice

A general rule to use in assessing the average collection period is that it

• A) should not exceed 30 days.
• B) can be any length as long as the customer continues to buy merchandise.
• C) should not greatly exceed the return period.
• D) should not greatly exceed the credit term period.

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Definitions:

Essay Questions

Open-ended questions requiring written responses that demonstrate understanding and analysis.

Recall

pertains to the mental process of retrieving information from the past, whether recently experienced or long-term memories.

Encoding

The process of converting information into a form that can be stored in memory, involving attention and understanding.

Police Lineup

A method used by law enforcement to identify a perpetrator by having a witness or victim identify the suspect among other individuals.