Monitoring Problems in a Way That Provides Their Timely Prevention

question 45

Short Answer

Monitoring problems in a way that provides their timely prevention rather than after the fact reaction refers to ______________.

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Definitions:

Cash Discount

A deduction from the total amount on an invoice allowed by a vendor to encourage prompt payment.

Accounts Receivable

The money owed to a business by its clients for goods or services delivered but not yet paid for.

Sales Discounts

A reduction in the price of goods or services offered by a seller to a buyer, typically used to encourage prompt payment or to reward customers for bulk purchases.

Operating Expenses

Operating expenses refer to the costs associated with the day-to-day operations of a business, excluding cost of goods sold.