Poor Controls Over Credit Limit Approval or in Changing the Credit

question 101

Multiple Choice

Poor controls over credit limit approval or in changing the credit limit in the master file may result in

• A) confused and frustrated customers.
• B) incomplete sales records.
• C) financial statement errors for sales and AR accounts.
• D) excessive bad debts and uncollectible account receivables.

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Definitions:

Infancy

Refers to the earliest stage in human life, spanning from birth to the age of two, characterized by rapid physical and cognitive development.

Adulthood

A life stage characterized by reaching physical, cognitive, and social maturity, and assuming adult roles and responsibilities.

Attachment Style

Patterns of expectations, needs, and emotions one displays towards significant others, shaped by early relationships with caregivers.

Satisfied

The feeling of contentment or fulfillment that comes from meeting one's expectations or needs.