Checking a customer's past payment information before approving credit sales is part of which plan?
Answer and explanation
Correct answer: Procedure
Checking past payment information is one of the prescribed steps followed before approving a credit sale; therefore, it is a procedure. A method refers to a particular way of performing one task, whereas a procedure consists of a sequence of steps. Exam tip: identify a procedure when the question describes an ordered series of actions.
Frequently asked questions
What is the correct answer to this question?
Procedure
Why is this the correct answer?
Checking past payment information is one of the prescribed steps followed before approving a credit sale; therefore, it is a procedure. A method refers to a particular way of performing one task, whereas a procedure consists of a sequence of steps. Exam tip: identify a procedure when the question describes an ordered series of actions.
Which subject and chapter does this question cover?
This is a Class 12 Business Studies question. Chapter: Planning. Topic: Types of plans.
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