Examlex
Which of the following are an issue in a firm's management of its accounts receivable?
I.Deciding which customers to offer credit to.
II.Minimising the costs of carrying accounts receivables.
III.Following up slow paying customers.
Ceiling Price
Ceiling price is a legally imposed maximum price on goods or services, above which transactions cannot legally occur, often implemented to prevent price gouging during shortages.
Maintenance
The upkeep and repair of machinery, equipment, and buildings to ensure their optimum working condition.
Shortage
A market condition occurring when the demand for a product or service exceeds the supply available at a specific price.
Equilibrium Level
The state of balance where demand equals supply in a market, resulting in an optimal distribution of resources without excess supply or demand.
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