Asked by Isabella Francis on May 22, 2024
Verified
How often should you run the report that reflects accounts with delinquent balances?
A) weekly
B) biweekly
C) monthly
D) bimonthly
Delinquent Balances
Unpaid amounts of money that are past due and have not been settled within the agreed time frame.
Biweekly
occurs or is done every two weeks or twice a week, depending on context.
- Embark on learning about the ethical and compliance landscape of billing and collections, focusing on how credit balances are handled and what disclosures need to be made under regulations like the Truth in Lending Act and the Fair Debt Collection Practices Act.
Verified Answer
MA
Michelle AckersMay 26, 2024
Final Answer :
C
Explanation :
Running the report monthly is a common practice that allows businesses to regularly monitor and address delinquent accounts without overwhelming the administrative process. This frequency strikes a balance between staying informed and not overburdening staff with too frequent reporting.
Learning Objectives
- Embark on learning about the ethical and compliance landscape of billing and collections, focusing on how credit balances are handled and what disclosures need to be made under regulations like the Truth in Lending Act and the Fair Debt Collection Practices Act.