A Credit Policy Includes Each of the Following Except

question 15

Multiple Choice

A credit policy includes each of the following except:

• A)credit standards
• B)the company's approach to credit investigation and corrections
• C)whether a "just in time" system will be used
• D)credit terms

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Definitions:

Liability

A legal obligation or responsibility for the outcome of actions or for the debts of another.

Term-Life Insurance

Life insurance that provides coverage for a specified term.

Specified Term

A fixed-duration period explicitly stated in a contract or agreement, after which the contract may expire if not renewed.

Incontestability Clause

A provision in a life insurance policy that prevents the insurer from disputing the policy's validity after it has been in force for a certain period, typically two years, except under circumstances such as fraud.