Which of the following policies is a minimum standard for managing customer credit?
A. Continuing credit sales to customers who become significantly late in paying
B. Filing suits and liens against the assets of customers who default on payment
C. Authorizing credit sales without any credit check to every individual customer
D. Providing cash discounts to customers who delay payments
Answer: B
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The backbone of the process of identifying, studying, and implementing best practices is
A. benchmarking. B. the innovative application of TQM techniques. C. a corporate culture that has a core value of operating excellence. D. Six Sigma quality control techniques. E. business process reengineering.
Diamond Plywood, Inc., manufactures four types of plywood panels. Each product must go through the following operations: patching, grading, gluing, and baking. The time in hours required for each operation for each panel, the total capacity available for each these operations in a given month, as well as the minimum production requirements and the profit contributions per panel are given in the following table. If Diamond Plywood wishes to reduce its capacity in one of the four operations, which one should it avoid?
a. patching
b. grading
c. gluing
d. baking
The vesting of contractual rights in a third party terminates the right of the original parties to change the contract.
Answer the following statement true (T) or false (F)
A cashier's check is drawn by a bank upon itself to the order of a named payee
Indicate whether the statement is true or false