An Effective Compliance Program Includes All of the Following,except

question 2

Multiple Choice

An effective compliance program includes all of the following,except:

• A)Management oversight
• B)Consistent discipline
• C)Coercive action
• D)Compliance with standards and procedures

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Definitions:

Discount Period

The time frame between the beginning of a loan or credit term and the date the full payment is due, during which a discount may be offered for early payment.

Aging Schedule

A report categorizing a company's accounts receivable according to the length of time an invoice has been outstanding, used to determine credit and collection policies.

Uncollectible Accounts Receivable

Money owed to a company that it does not expect to collect due to the debtor's inability to pay.

Bad Debt Expense

This represents the amount of receivables a company believes it can no longer collect, reflecting potential losses for accounts receivable or loans that are not expected to be fully paid.