Which One of the Following Is Not One of the Three

question 25

Multiple Choice

Which one of the following is not one of the three steps involved in establishing a credit policy?

• A) Establishing credit payment patterns
• B) Establishing credit standards
• C) Establishing a collection policy
• D) Establishing credit terms

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Definitions:

Consumer Protection

Laws and strategies designed to ensure the rights of consumers, as well as fair trade, competition, and accurate information in the marketplace.

Negotiable Instruments

Financial documents that guarantee the payment of a specified amount of money, either on demand or at a set time.

Transferring Funds

The act of moving money from one account to another, across individuals, businesses, or banking institutions.

Retake Possession

The act of reclaiming ownership or control of property or assets, often legally after a breach of agreement or law.