The Credit Period Is the Amount of Time It Takes

question 35

True/False

The credit period is the amount of time it takes to do a credit search on a potential customer.

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Definitions:

Revoke

To officially cancel, withdraw, or annul a decision, order, or agreement.

Impunity

Exemption from punishment or loss or escape from fines in cases where actions could typically result in such consequences.

Joint Tenancy

is a form of property ownership where two or more parties hold equal ownership interests, and the survivor(s) inherit any deceased's share.

Surviving Owner

refers to an individual who co-owned property or assets with another and retains ownership after the other’s death, often in joint tenancy agreements.