Examlex
Which of the following types of marketing involves sending out letters, brochures, samples, and DVDs to consumers' addresses?
Average Collection Period
The average collection period is the average number of days it takes for a business to receive payments owed by its customers for sales made on credit.
Accounts Receivable
Funds that are owed to a company by its customers for products or services provided on credit.
Note Receivable
A written promise that one party will receive a certain amount of money from another party at a future date, categorized as an asset.
Honoured
In financial terms, referred to a cheque or payment that has been accepted and processed by the bank.
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