The Three Major Elements in a Firm's Credit Policy Are

question 4

True/False

The three major elements in a firm's credit policy are (1)credit standards, (2)credit terms,and (3)collection policy.

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Definitions:

Potential for Growth

The inherent capacity or ability of an individual or organism to develop and mature beyond its current state.

Assertive Behaviours

Actions characterized by confidence and self-assurance, through which individuals express their needs and rights without infringing on others'.

Humanist

A person who adopts a philosophical and ethical stance emphasizing the value and agency of human beings, individually and collectively.

Passive

Lacking in active response or involvement; allowing or subject to action without opposition or resistance.