Asked by
V3ngeful Emp3ror
on Dec 09, 2024Verified
JJJ, Inc. recently extended its credit period from net 30 days to net 40 days. This represents a change in the firm's ______________.
A) collection policy
B) terms of sale
C) receivables policy
D) credit-granting policy
E) loan policy
Collection Policy
The set of guidelines a company uses to monitor and manage the collection of accounts receivable or owed debts.
Receivables Policy
A set of guidelines a company follows to manage its accounts receivable, including credit terms, collection methods, and credit limits.
Credit-Granting Policy
A set of guidelines that a lender uses to determine whether to extend credit to borrowers and on what terms.
- Master the concepts of effective credit policy and its consequences on a firm's financial well-being.
- Understand the ramifications of credit policy shifts on customer payment conduct and the financial condition of the enterprise.
Verified Answer
ZM
Learning Objectives
- Master the concepts of effective credit policy and its consequences on a firm's financial well-being.
- Understand the ramifications of credit policy shifts on customer payment conduct and the financial condition of the enterprise.