Examlex
Which of the following is a true statement regarding logical design?
Average Collection Period
The average number of days it takes for a business to collect payments from its customers after a sale has been made.
Discount Policy
A company's strategy regarding the conditions under which discounts are offered to customers, affecting sales volume, revenue, and cash flows.
Credit Terms
Refers to the conditions under which credit is extended by a lender to a borrower, including repayment schedule, interest rate, and due dates.
Net 45
A term indicating that payment is due 45 days after the invoice date.
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