Which of the Following Actions Is Taken to Reduce the Collections

question 66

Multiple Choice

Which of the following actions is taken to reduce the collections period for receivables of a firm?

• A) Increasing the sales of the firm
• B) Decreasing the purchases of the firm
• C) Modifying the credit policy of the firm
• D) Changing the inventory valuation method of the firm
• E) Revising the working capital policy of the firm

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Definitions:

Surgery Team

A group of healthcare professionals, including surgeons, anesthesiologists, and nurses, who work together during surgical procedures to ensure patient safety and successful outcomes.

Organizations

Groups of individuals structured and managed to pursue collective goals, typically through a system of rules and norms.

Groupthink

A psychological phenomenon that occurs within a group of people, where the desire for harmony in the group results in an irrational or dysfunctional decision-making outcome.

Devil's Advocate

A person who takes a position they do not necessarily agree with for the sake of argument to explore and critically discuss a particular issue.