External Sources May Be Broadly Classified as General Business/non-Government Data

question 137

True/False

External sources may be broadly classified as general business/non-government data, government data, or syndicated data.

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Definitions:

Standards

Established norms or requirements that are used as a basis for comparison or compliance.

Credit

A form of financial arrangement where a borrower receives something of value now and agrees to repay the lender at a later date, typically with interest.

Accounts Receivable Period

Also known as the average collection period, it refers to the average number of days it takes a company to collect payments from its credit sales.

Collecting Receivables

Collecting receivables involves the process or steps taken by a business to ensure that payments are received from customers for goods or services provided on credit.