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:

Harry Potter

A fictional character and the main protagonist in a popular series of fantasy novels written by J.K. Rowling.

Observational Learning

The process of learning behaviors and skills by watching and imitating others.

Reciprocal Determinism

A theory proposed by Albert Bandura that suggests individual behavior, the environment, and cognition are interconnected and influence each other.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior.