BF Chapter 9 Vocab Review

Front

Schedule generated from aging accounts receivable; categorizes unpaid accounts by duration.

Back

Aging Schedule

Front

Personal qualities of a credit applicant showing responsibility and dependability.

Back

Character

Front

An account no longer collectible.

Back

Charge Off

Front

Steps to keep customer credit payments updated and reduce charge-offs.

Back

Collection Procedures

Front

Factors outside borrower/lender control affecting risk; part of insurance contract stipulating requirements for coverage and loss payment.

Back

Conditions

Front

Credit offered to individual consumers by a business.

Back

Consumer Credit

Front

Credit services by a financial firm for a fee.

Back

Contracted Credit Plan

Front

Agreement where a borrower gets value in exchange for a promise to repay.

Back

Credit

Front

Document outlining credit terms and payment.

Back

Credit Agreement

Front

Guidelines for customer credit eligibility.

Back

Credit Standards