Accurate and Timely _____ Are Essential for Making Decisions Concerning

question 76

Multiple Choice

Accurate and timely _____ are essential for making decisions concerning the extension of credit.They also help produce accurate billing of customers,and thus help to maintain good customer relations.

• A) payroll records
• B) leasehold records
• C) accounts payable records
• D) accounts receivable records

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Definitions:

Debentures

A type of long-term debt instrument used by companies and governments to borrow money, not secured by physical assets.

Warrants

Legal documents that grant the holder the right to buy or sell a particular asset at a specific price before a certain date.

Corporation by Estoppel

A principle where a company is treated as if it were legally incorporated, due to its conduct, even if it failed to complete the formal incorporation process.

Defectively Organized

Pertains to an entity or group that has not been set up correctly according to legal requirements or standards.