Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.) Most companies have a formal credit management processes and develop a credit policies to collect the payments owed by customers. All of the features

1.) Most companies have a formal credit management processes and develop a credit policies to collect the payments owed by customers. All of the features below are part of a credit policy except: (select one)

a. vendor payment guidelines

b. collection method

c. terms of credit

d. credit standards

2.) When a company places a large order for materials, the supplier may provide a price discount known as a (select one)

a. quantity discount

b. Patrick price discount

c. quality discount

d. preferred customer discount

3.) Inventory includes all of the following types except: (select one)

a. finished goods

b. raw materials

c. work in process

d. forklift used to move in warehouse

4.) The difference between the balances shown in a firm's accounting system and actual balance shown by the bank is defined as (select one)

a. buoyancy

b. float

c. sink

d. kiting

5.) The technology which allows a company to scan cash into a mobile vault for same day credit is

a. smart safe

b. remote check scanner

c. lockbox

d. smart phone

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Finance Core Theory Problems And Statistical Algorithms

Authors: Nikolai Dokuchaev

1st Edition

0415414482, 978-0415414487

More Books

Students also viewed these Finance questions