Which One of the Following Is NOT One of the Three

question 40

Multiple Choice

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

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

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Definitions:

Charged Assets

Assets that are used as security or collateral for a loan or obligation, ensuring the lender has rights to the asset if the borrower defaults.

Secured Creditor

Someone who has a ‘charge’ over some or all of the company’s assets, to secure a debt owed by the company.

Corporation Act

A legal framework that governs the creation, operation, and dissolution of corporations, detailing the regulatory environment for corporations and their stakeholders.

Administrator's Role

A position involving the management and organization of a company or institution's affairs, often referring to duties in a legal or academic context.