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CIMAPRA19-F01-1 Exam - Topic 3 Question 42 Discussion

Select THREE actions that should be taken by a business offering credit to its customers to ensure that amounts owing are collected as quickly as possible.
A) Chase up slow payers with reminder letters. and B) Monitor outstanding trade receivables. and D) Issue invoices quickly.
C) Extend the credit terms available to customers.
E) Monitor outstanding trade payables.
F) Take longer to settle trade payables than collect trade receivables.

CIMAPRA19-F01-1 Exam - Topic 3 Question 42 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 42
Topic #: 3
[All CIMAPRA19-F01-1 Questions]

Select THREE actions that should be taken by a business offering credit to its customers to ensure that amounts owing are collected as quickly as possible.

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Suggested Answer: A, B, D

by Mollie at May 03, 2022, 05:17 PM

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Gail
10 months ago
I thought everyone knew to send reminders!
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Nathalie
10 months ago
Wait, extending credit terms? That sounds risky...
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Horace
11 months ago
Monitoring receivables is key too!
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Jesusita
11 months ago
Agree, chasing slow payers is a must.
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Grover
11 months ago
Definitely issue invoices quickly!
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Maira
11 months ago
This seems like a straightforward question about compliance programs. I'm pretty confident I can answer this correctly.
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Shenika
11 months ago
This looks like a question about TOGAF, which I've been studying. I think the answer is B, a Foundation Architecture, since the TOGAF Technical Reference Model is a foundational architecture that provides a common framework.
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Sue
11 months ago
The key here is that we need to get the same 1,000 rows each time, so I think option B with the seed parameter is the way to go. It's a simple and reliable way to get a consistent sample.
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