The Most Stringent Step in the Collection Process Is ________

question 306

Multiple Choice

The most stringent step in the collection process is ________.

• A) letters
• B) personal visits
• C) collection agencies
• D) legal action

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Definitions:

ATMs

Automated Teller Machines, electronic banking outlets that allow customers to complete transactions without the need for a human clerk or bank teller.

Banking Industry

The sector of the economy made up of banks and financial institutions that provide services like accepting deposits, lending money, and other financial activities.

Substitutes

Goods or services that can be used in place of each other, having the ability to satisfy similar consumer needs or desires.

Complements

Goods or services that are used together, where an increase in demand for one leads to an increase in demand for the other.