Credit policy requires
1) establishing the terms of credit
2) determining to the amount of any discount
3) determining the collection policy
A)1 and 2
B)1 and 3
C)2 and 3
D)1, 2, and 3

Question

Credit policy requires
1) establishing the terms of credit
2) determining to the amount of any discount
3) determining the collection policy​
A)​1 and 2
B)​1 and 3
C)​2 and 3
D)​1, 2, and 3

Quizplus · Accepted Answer

A credit policy encompasses establishing the terms of credit, determining the amount of any discount for early payment, and setting the collection policy for late payments.

Credit Policy Requires 1) Establishing the Terms of Credit