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WorksheetsCredit and Collection - Prelim Quiz 2
Total questions: 11
Worksheet time: 9mins
It measures the monetary value of all the finished goods and services produced by the country's factors of production irrespective of their location.
(a)
They have a direct bearing on the availability of macro-credit.
(a)
It determines the cost of money for credit transactions.
(a)
It encompasses the whole range of activities and responsibilities from the planning, development, and formulation of generally no-nonsense credit and collection policies and procedures.
(a)
It indicates the market environment for sellers and buyers in their interplay in the open market through credit.
(a)
A low percentage of bad debt is convincing proof of good credit management.
True
False
Anomalies of Sales or Credit & Collection:
fictitious or pseudo orders
sales
credit and collection
Anomalies of Sales or Credit & Collection:
malversation of collection
sales
credit and collection
Anomalies of Sales or Credit & Collection:
witting or non-issuance of collection receipts
sales
credit and collection
Anomalies of Sales or Credit & Collection:
kitting or use of the collection for personal purposes
sales
credit and collection
Essay: 10 points
How does one reconcile the conflict between sales and credit? Explain your answers in 5-10 sentences.
