Virtual Teams Are Groups of Individuals from Around the Globe

question 12

True/False

Virtual teams are groups of individuals from around the globe that meet through the use of technological aids without all of their members being present in the same location.

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Definitions:

Macro-aging Schedule

A method used in accounting to categorize accounts receivable or payables based on the length of time they have been outstanding.

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Average Collection Period

The average number of days it takes for a company to receive payments owed by its customers for sales on credit.

Credit Policies

Guidelines that a company follows to determine the creditworthiness of customers, terms of credit, collection procedures, and how much credit to extend.