Although Sound Cash Management Principles Call for a Business Owner

question 37

True/False

Although sound cash management principles call for a business owner to keep her/his cash as long as possible, slowing accounts payable too drastically can severely damage a company's credit rating.

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Definitions:

Peerless

Unique and having no equal; often used in legal contexts to describe something that has no identical counterpart.

Breach Of Contract

A violation of any of the agreed-upon terms and conditions of a binding contract.

Mistake In Meaning

A misunderstanding or misinterpretation of terms or conditions in a contract that can affect the validity of the agreement.

Mistake Of Law

A misunderstanding or incorrect interpretation of the law by an individual, which does not generally excuse compliance.