In a Short Essay, Explain the Importance of Communication in Regards

question 69

Essay

In a short essay, explain the importance of communication in regards to how it can have a significant impact on a customer's satisfaction with the service and the likelihood of being a repeat customer.

---

Definitions:

Bad Debt Expense

Represents the amount of receivables a company estimates it will not collect.

Allowance Method

An accounting technique used to estimate and record bad debts expense by anticipating uncollectible accounts.

Allowance Method

An accounting technique used to estimate and record uncollectible accounts receivable, reducing the net value of accounts receivable to an amount expected to be collected.

Credit Sales

Sales in which revenue is recognized at the point of sale but payment is deferred till a later date, typically employed in business-to-business transactions.