Discuss, in general, what it means for the brothersto set a credit and collections policy

Q: Explain the characteristics of credit products.

A: When the banks or any financial institutes commitments or guarantees on the behalf of the customers…

Q: What are industry benchmarks, and why are they used in the credit evaluation process?

A: The answer for the question on the industry benchmarks used in the credit evaluation process is…

Q: in managing accounts receivables, objectives must be achieved?

A: Working capital is calculated as the difference between the value of current assets and current…

Q: Explain the other sources of credit

A: The term credit can be defined as the agreement between two parties involving a borrower and a…

Q: What is the difference between a credit score(FICO) and a credit report. How/where can you check…

A: Credit Score- It is a number that  helps the lender to evaluate the credit worthiness  of an…

Q: Define credit terms

A: Credit refers to the amount of money which is lend to the borrower for certain period of time.

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: A credit balance to a client’s accounts payable account representing right to receive payment for…

A: Accounts payable accounts are consisting of those supplier accounts from whom business has made…

Q: how to understand the characteristics of letter of credit

A: A letter or document issued by the bank in order to give guarantee payment to the seller is referred…

Q: How does credit scoring operate, and how are we as consumers and users of credit effected by it?

A: Credit Scoring - Credit scores are calculated with the help of the details of the old payment…

Q: Explain what important information we can get from each sources of credit information to be able to…

A: Financial organizations seek to reduce the risk of supplying to borrowers by completing a credit…

Q: Bank loans often are arranged under existing lines of credit. What is a line of credit? How does a…

A:

Q: Describe about the trade credit procedure.

A: Trade: Trade refers to buying or selling goods and service in exchange of money or money’s worth.

Q: ow to record credit sale in an entrie?

A: Credit sales mean the amount which is delayed to paid but agreed to pay in future by the consumer.

Q: Define Receivable Management and Credit Policies

A: Receivable Management : managing the outstanding   Credit Policies  : Selling on credit to parties…

Q: What are some of the assets and liabilities associated with credit cards?

A: Introduction: A credit card can be defined as a small piece of card which is offered by banks or any…

Q: Define credit union

A: Credit Union is a not for profit entity that provides financial services to its members.

Q: What are the four elements of a credit policy? Briefly explain.

A: Following are the four elements of a credit policy: Credit standards: Consider potential clients by…

Q: Credit and collection management is also known as RCM. What is RCM and its meaning

A: credit and collection management is that term mostly used in the accounting for goods and services…

Q: the rules of debit and credit

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: In your own definition what is credit and what is collection

A: The businesses tend to conduct their operations not only on a cash basis but also on a credit basis.…

Q: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

Q: What is the objective of having a control system and what is the key points of a credit control…

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: Who needs credit and collection management and why do they need ccm?

A: when the revenue cycle management for the credit and collection management is done by the healthcare…

Q: describe in detail credit unions

A: Financial institutions: A corporation engaged in the business of handling financial and monetary…

Q: List the ways in whichbanks deal with creditrisk

A: Credit risk in terms of banking industry refers to the risk exposure a bank faces when the borrower…

Q: Define each of the following terms:i. Credit policy; credit period; credit standards; collection…

A: CREDIT POLICY- ''Guidelines that spell out a way to decide which customers area unit sold-out on…

Q: Discuss the different types of banks deposits in respect to features, interest, cost, withdrawals,…

A: The question is based on the concept of different accounts offered by a bank. Bank accepts deposits…

Q: ring is/are categorized as open account credit?

A: Open account credit refers to a pre-approved loan between a lender/retailer and a borrower. This…

Q: Identify and explain the duties of collecting banks.

A: Collecting bank: Collecting banks are defined as those banks which collects money in favor of its…

Q: Documents of credit appraisal for individual loan.

A: Credit appraisal basically refers to assessing a particular loan application or proposal in a…

Q: Define consumer credit markets

A: CONSUMER CREDIT MARKET-             Consumer credit refers to short- and intermediate-term personal…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.