An entrepreneur can potentially improve collections by:
A) contacting the customer once the bill becomes past due to verify they have received the bill and that it is accurate.
B) negotiate payment if the customer is unable to pay the full amount on time.
C) developing a rapport with the customer that will lead to prompt payment.
D) all the above

Question

Quizplus · Accepted Answer

All of the choices listed can potentially improve collections. Contacting the customer to verify the bill ensures that they received it and that there are no errors or disputes causing the delay in payment. Negotiating payment allows the customer to make smaller payments over time or settle for a lower amount if they are unable to pay the full amount on time. Developing a rapport with the customer leads to trust and respect between both parties, which can lead to prompt payment and future business opportunities.

An Entrepreneur Can Potentially Improve Collections By