You have a customer whose financials are deteriorating and credit limit is likely to be reduced. What is the best course of action?

True or False? Signing a contract always creates a liabiity or asset.

True or False? According to the IRS, bad debts can always be used as an allowable deduction when computing profits for a company.

What might a company do to increase their float if they are deceitful?

If a company is to be audited for credit approval, what three statements must be provided?

Who is chapter 12 bankruptcy intended for?

Why would a company break revenue up into specific accounts instead of having one master 'revenue' account?

How do collection agencies typically work with a company with receivables?

Why must companies actively manage their outstanding receivables?

On the balance sheet, Receivables may be classified as ________

Why do companies bother with adjustments? Wouldn't it be easier to let items clear up the following month?