To ensure prompt payment, a business extending credit should have adequate billing records and collection procedures.

Name: To ensure prompt payment, a business extending credit should have adequate billing records and collection procedures.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Having adequate billing records and collection procedures can help a business monitor its accounts receivable and follow up with customers who are overdue on payments, ultimately leading to more timely payment of debts.

To Ensure Prompt Payment, a Business Extending Credit Should Have