Asked by JadedFace Beauty on May 31, 2024
Verified
The longer a credit account goes uncollected, the less likely the small business owner will receive the money owed to him/her.
Credit Account
is a financial arrangement where a borrower receives something of value now and agrees to repay the lender at a later date, often with interest.
Small Business Owner
A proprietor of a business enterprise that typically has a limited number of employees and a relatively low volume of sales.
- Understand the implications of credit on business operations.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
True
Explanation :
As time passes, the likelihood of collecting on a past-due account decreases, making it harder for small business owners to recover the money owed.
Learning Objectives
- Understand the implications of credit on business operations.