The Bursar's Office at Your University Decides to Benchmark the Collections

question 227

Short Answer

The bursar's office at your university decides to benchmark the collections department of a credit agency to improve their own collection rate. This is an example of ________.

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Definitions:

Other Postretirement Benefits

Benefits, other than pension distributions, that an employee is entitled to receive after retirement, such as life insurance and medical benefits.

Cash Basis of Accounting

An accounting method where revenues and expenses are recognized only when cash is received or paid.

Accrual Basis of Accounting

Accrual basis of accounting is a method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Defined Benefit Pension Plan

A type of pension plan where the benefits that a retiree will receive are calculated based on factors such as salary history and duration of employment.