A General Rule to Use in Assessing the Collection Period

question 150

Multiple Choice

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

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

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Definitions:

Temporal Bone

A bone situated on the side of the skull, containing the organs of hearing and balance.

Cataract

Complete or partial opacity of the lens of the eye.

Lens of the Eye

A transparent structure behind the iris of the eye that helps to refract light to be focused on the retina.

Acute Central Vision

Acute central vision refers to the component of vision that is responsible for sharp, detailed vision in the direct line of sight.