Components of Credit Policy: Terms of Sale

Instructions:

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

question 1 of 3

Which option encourages payment of accounts receivable?

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1. What is credit?

2. Which agency provides business financial data and credit scores?

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About This Quiz & Worksheet

The quiz and worksheet focus on the different parts of credit policy. Questions assess knowledge of the 5 C's of credit, the meaning of credit and related policies.

Quiz & Worksheet Goals

Assessment items test knowledge of:

  • Agencies that provide business financial data and credit scores
  • 5 C's of credit
  • C of credit that impacts interest rates

Skills Practiced

  • Defining key terms - ensure that you can accurately define the key term credit
  • Reading comprehension - ensure that you draw the most important information from the lesson on credit policy
  • Information recall - access the knowledge you've gained to identify the options that encourage payment of accounts receivable

Additional Learning

Learn more about credit policy by completing the lesson titled Components of Credit Policy: Terms of Sale. Objectives covered include:

  • Know what terms of sale are
  • Review an example of a collection policy
  • Discuss the three components in creating a credit policy
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