What Is Accreditation

question 10

Multiple Choice

What is accreditation?

• A) Officially recognizing a person or organization for meeting standards established by an industry
• B) Obtaining enough continuing education credits
• C) Recognizing the achievements of healthcare providers publicly
• D) Recognizing a healthcare provider for their years of service

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Definitions:

Management Policy

Guidelines and rules set by an organization's management to direct operations and decision-making in alignment with the company's objectives.

Credit Policy

A credit policy is a set of guidelines that a company follows to determine credit limits, payment terms, and how to manage delinquent accounts for its customers.

Terms of Sale

The conditions under which a sale is made primarily with respect to payment. Terms include a date on which payment is due and often specify a prompt payment discount that may be taken if payment is made within a specified time.

Lock Box Systems

A service provided by banks to companies for the quick collection of payments from customers by directing those payments to a special post office box.