Once a Small Business Has Established a Firm Written Credit

question 13

Multiple Choice

Once a small business has established a firm written credit policy and has clearly communicated it, the next step in building an effective credit policy is to ________.

• A)send invoices promptly
• B)determine what percentage of sales are being written off as bad debt
• C)create a simple credit application
• D)create a "tracking file" of events

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Definitions:

Expatriates

Individuals who live outside their native country, often for work reasons, and face unique challenges and opportunities.

Power Distance Cultures

Societies or organizations where there is acceptance of unequal distribution of power, authority, and status, often leading to hierarchical structures.

Cultural Intelligence

The capability to function and manage well in culturally diverse environments.

Motivation

The psychological process that initiates, guides, and maintains goal-oriented behaviors.