Initially,ATM's Automated Teller Machines)were Introduced So That Customers Could Make

question 109

Multiple Choice

Initially,ATM's automated teller machines) were introduced so that customers could make withdrawals from their bank accounts,day or night.As the technology improved,the machines offered a variety of services including the acceptance of deposits,the ability to get credit card advances,check your bank account balances,and even purchase prepaid cell phone credit.ATMs now offer:

• A)flexible manufacturing for its customers.
• B)lean services because it only needs to keep a certain amount of cash in each machine.
• C)technology similar to CAD.
• D)faster service and mass customization.

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Definitions:

Collection Policy

The set of guidelines a company uses to monitor and manage the collection of accounts receivable or owed debts.

Receivables Policy

A set of guidelines a company follows to manage its accounts receivable, including credit terms, collection methods, and credit limits.

Credit-Granting Policy

A set of guidelines that a lender uses to determine whether to extend credit to borrowers and on what terms.

Credit Policy Effects

The impact of a company's credit policy on its cash flows, sales volume, and overall financial health, including aspects like credit terms and collection practices.