A Credit Collection Policy Is Likely to Include

question 9

Multiple Choice

A credit collection policy is likely to include

• A)forced jail time if debts are not paid
• B)physical intimidation after customer refusals to pay
• C)various actions to be taken after a debt has been outstanding for 30,45,60,75 or 90 days
• D)public announcements which identify the customer who has refused to pay their debt

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Definitions:

Materials Requisition

The document or electronic request used within a company to authorize the withdrawal of materials from inventory for use in the production process or other internal use.

Purchase Requisition

A document generated by a user or department within a company to request the purchase of specific goods or services.

Receiving Report

A document used to record the receipt of goods at the receiving dock of a company, providing details on the shipment received, including quantity and condition.

Factory Overhead

The indirect manufacturing costs incurred during the production process, such as utilities, maintenance, and salaried staff.