Monitoring Receivables in a Collection Policy


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question 1 of 3

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

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

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

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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