The Four Primary Elements in a Firm's Credit Policy Are

question 92

True/False

The four primary elements in a firm's credit policy are (1)credit standards, (2)discounts offered, (3)credit period,and (4)collection policy.

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Definitions:

Sensory Awareness

The conscious perception and recognition of sensory stimuli based on the senses.

Positive Response

A reaction to a stimulus or situation that is beneficial or favorable.

Hypnosis

An altered state of consciousness in which people are highly suggestible and behave as though they are in a trance.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, and experiences.