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1. Effective credit management involves establishing credit standards for extend

ID: 2710935 • Letter: 1

Question

1. Effective credit management involves establishing credit standards for extending credit to customers, determining the company's term of credit, and setting up procedures for invoicing and collecting past-due accounts.

The following statement refers to a credit management policy. Select the best term to complete the sentence.

The minimum financial strength a customer must have to be granted credit is indicated by the company's

______________.


A. credit standards
B. Terms of credit
C. collection of policy

Explanation / Answer

A. Credit Standards -- which specifies the minimum financail strength and other standards to be met by customer to be eligible for credit

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