A Business That Extends Credit to Buyers Should Establish

question 48

Multiple Choice

A business that extends credit to buyers should establish:

• A) credit policies
• B) income debit policies
• C) collection policies
• D) credit and collection policies
• E) credit, collection, and income debit policies

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Definitions:

Tolerance

A physical aspect of addiction that occurs when a person needs to take larger doses of a drug to experience its effect.

Psychological Dependence

The emotional or mental attachment to a substance, behavior, or habit, characterized by a perceived need for the substance or behavior to function normally.

Withdrawal

The process or action of removing oneself from a harmful situation, substance abuse habit, or social engagement.

Psychological Dependence

A condition characterized by an emotional or mental attachment to a substance, behavior, or activity, leading to distress or anxiety when it is absent.