Monitoring Receivables in a Collection Policy

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The terms a business uses to collect money owed is which of the following?

Start Your Free Trial To Take This Quiz

As a member, you'll also get unlimited access to over 75,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Free 5-day trial
It only takes a few minutes to set up and you can cancel at any time.
Already registered? Login here for access

1. Which of the following is in a collection policy?

2. Accounts that are in collections are which of the following types of accounts?

Start your free trial to access this entire page
A premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

How are receivables in a collection policy monitored? You can check your knowledge of these policies by working through the quiz and worksheet. Topics covered include vocabulary words associated with collections, receivables monitoring, and what is included in a collection policy.

Quiz & Worksheet Goals

Using these tools, you can check your knowledge of:

  • Components of a collection policy
  • The name for the terms used to collect money owed
  • When receivables monitoring should happen
  • Average number of days it takes a company to collect on their sales
  • The name for accounts that are in collections

Skills Practiced

  • Information recall - access the knowledge you have gained about the different components of a collection policy
  • Reading comprehension - ensure that you draw the most important information from the lesson on collection policies and receivables
  • Interpreting information - verify that you can read information about accounts that are in collections and interpret them correctly

Additional Learning

Learn more using the lesson titled Monitoring Receivables in a Collection Policy. Some tasks it will help you accomplish include:

  • Define collections
  • Determine how companies monitor the accounts that are in collections
  • Examine how different accounts work
Support