CAC at University Of Northern Philippines | Flashcards & Summaries

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Lernmaterialien für CAC an der University of Northern Philippines

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TESTE DEIN WISSEN
Collection efforts should be exerted so as to induce the customers to settle their accounts willingly on their own initiative without the necessity of any reminder.
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TESTE DEIN WISSEN
Goodwill of customers must be cultivated and maintained
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TESTE DEIN WISSEN
the favor or prestige that a business has acquired beyond the mere value of what it sells.
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TESTE DEIN WISSEN
Goodwill
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TESTE DEIN WISSEN
To minimize risks, it is imperative to bill one's customer as quickly as possible so that payments can be received quickly. This is because the longer the receivable remains outstanding, the higher is the hazards and risks of non-payment.
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TESTE DEIN WISSEN
Risk must be reduced to its minimum
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TESTE DEIN WISSEN
Debtors who become delinquent due to unavoidable circumstances beyond their own control such as: prolonged illness or untimely death of a member of a family, which may have caused a heavy drain of funds.
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TESTE DEIN WISSEN
The Cooperative Debtor
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TESTE DEIN WISSEN
This type of debtor will not hesitate to settle his financial obligations as soon as he is provided with the opportunity to do so, hence, a good moral risk.
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TESTE DEIN WISSEN
The Cooperative Debtor
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TESTE DEIN WISSEN
Debtors who are fond of airing baseless complaints which will serve as a smoke screen for their failure to meet their obligations on time. e.g. poor service of the company, defective merchandise, over-pricing of the goods, etc.
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TESTE DEIN WISSEN
The chronic complainer
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TESTE DEIN WISSEN
This debtor does not deny the existence of his obligation nor shun away from the presence of bill collectors, however, he has a number of reasons to explain why he cannot or should not pay at least for the time being. Hence, the necessity for postponement in the settlement of the obligation.
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TESTE DEIN WISSEN
The politician-type
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TESTE DEIN WISSEN
This type of debtor does not pay on time, not because he cannot pay, but rather because he finds it difficult to part with his money, hence, they are not concerned with what society or their fellow-beings think of them.
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TESTE DEIN WISSEN
The uncooperative and indifferent debtor
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TESTE DEIN WISSEN
This type of debtor usually claims close association with influential, powerful and affluent individuals. This enjoy talking about their wealth, their power, their affluent ancestors and everything that will help inflate their ego. 
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TESTE DEIN WISSEN
Paranoic
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TESTE DEIN WISSEN
They keep on promising that they will settle their accounts although the question that remains unresolved is when?
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TESTE DEIN WISSEN
Paranoic
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TESTE DEIN WISSEN
This debtor thinks that he is entitled to the use of credit regardless of his poor credit standing. This type of debtor, when reminded of their obligation , always exhibit an air of defiance, they become haughty and arrogant. Some of them even let loose their dogs so as to chase bill collectors.
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TESTE DEIN WISSEN
Belligerent or pugnacious type
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TESTE DEIN WISSEN
The expense on collection must be minimized.
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TESTE DEIN WISSEN
Collection cost must be kept within reasonable limits.
Lösung ausblenden
  • 10256 Karteikarten
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  • 9 Lernmaterialien

Beispielhafte Karteikarten für deinen CAC Kurs an der University of Northern Philippines - von Kommilitonen auf StudySmarter erstellt!

Q:
Collection efforts should be exerted so as to induce the customers to settle their accounts willingly on their own initiative without the necessity of any reminder.
A:
Goodwill of customers must be cultivated and maintained
Q:
the favor or prestige that a business has acquired beyond the mere value of what it sells.
A:
Goodwill
Q:
To minimize risks, it is imperative to bill one's customer as quickly as possible so that payments can be received quickly. This is because the longer the receivable remains outstanding, the higher is the hazards and risks of non-payment.
A:
Risk must be reduced to its minimum
Q:
Debtors who become delinquent due to unavoidable circumstances beyond their own control such as: prolonged illness or untimely death of a member of a family, which may have caused a heavy drain of funds.
A:
The Cooperative Debtor
Q:
This type of debtor will not hesitate to settle his financial obligations as soon as he is provided with the opportunity to do so, hence, a good moral risk.
A:
The Cooperative Debtor
Mehr Karteikarten anzeigen
Q:
Debtors who are fond of airing baseless complaints which will serve as a smoke screen for their failure to meet their obligations on time. e.g. poor service of the company, defective merchandise, over-pricing of the goods, etc.
A:
The chronic complainer
Q:
This debtor does not deny the existence of his obligation nor shun away from the presence of bill collectors, however, he has a number of reasons to explain why he cannot or should not pay at least for the time being. Hence, the necessity for postponement in the settlement of the obligation.
A:
The politician-type
Q:
This type of debtor does not pay on time, not because he cannot pay, but rather because he finds it difficult to part with his money, hence, they are not concerned with what society or their fellow-beings think of them.
A:
The uncooperative and indifferent debtor
Q:
This type of debtor usually claims close association with influential, powerful and affluent individuals. This enjoy talking about their wealth, their power, their affluent ancestors and everything that will help inflate their ego. 
A:
Paranoic
Q:
They keep on promising that they will settle their accounts although the question that remains unresolved is when?
A:
Paranoic
Q:
This debtor thinks that he is entitled to the use of credit regardless of his poor credit standing. This type of debtor, when reminded of their obligation , always exhibit an air of defiance, they become haughty and arrogant. Some of them even let loose their dogs so as to chase bill collectors.
A:
Belligerent or pugnacious type
Q:
The expense on collection must be minimized.
A:
Collection cost must be kept within reasonable limits.
CAC

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