After Turning an Account Over to the Collection Agency,the Dental

question 17

Multiple Choice

After turning an account over to the collection agency,the dental practice should continue to make every effort to collect the outstanding balance.If the patient contacts the dental practice to make payment arrangements,the practice is under no obligation to pay the collection agency.

• A)The first statement is true;the second statement is false.
• B)The first statement is false;the second statement is true.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Bargaining Position

The advantage or leverage that a party has in negotiations or discussions to influence an agreement's terms in their favor.

Cashier Check

A check drawn by a bank on its own funds and signed by a cashier, considered more reliable than a personal check because the bank guarantees its payment.

Commission Salesman

An individual who earns income based on the percentage of sales they generate.

Bargaining Position

The relative power of a party during negotiations that can influence the terms of the agreement.