The Three Steps in Establishing a Credit Policy Are Establishing

question 81

True/False

The three steps in establishing a credit policy are establishing credit standards, establishing credit terms, and establishing a collection policy.

---

Definitions:

Infrared

Electromagnetic radiation with wavelengths longer than those of visible light but shorter than those of microwaves, used in various technologies including remote controls and thermal imaging.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, responsible for decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Synaptic Pruning

The process by which extra neurons and synaptic connections are eliminated to increase the efficiency of neuronal transmissions.

Myelinated

Refers to nerve fibers that are coated with myelin, a substance that speeds up the transmission of nerve impulses.