Week 8

Question 1

Credit and Collection Policy

Answer 1

comprehensive document that delineates the guidelines and procedures for managing accounts receivable, extending credit to customers, and collecting payments.

Question 2

Why Does Every Business Need a Credit and Collection Policy?

Answer 2

for effectively managing accounts receivable and securing the financial stability of a business

Question 3

What is the legal and regulatory requirement that need to compliance in Credit and Collection Policy?

Answer 3

Fair Debt Collection Practices Act (FDCPA) and the Equal Credit Opportunity Act (ECOA).