With whom collections matters should be discussed?

With whom collections matters should be discussed?

• A. CFO/COO/Officers
• B. PG
• C. Employees in building
• D. Lease applicant

Answer: (A)

Collections decisions should be discussed with the senior financial leaders who set policy and manage liquidity. The CFO, COO, or other officers have the authority to approve collection strategies, restructuring plans, write-offs, reserve levels, and other actions that affect financial statements and cash flow. Involving them ensures any approach aligns with the company’s credit policy and risk tolerance. A personal guarantor is not an internal decision-maker and is typically engaged for external collection actions, not policy setting. On-site employees or a lease applicant aren’t appropriate for determining collection strategy or authorization.

Collections decisions should be discussed with the senior financial leaders who set policy and manage liquidity. The CFO, COO, or other officers have the authority to approve collection strategies, restructuring plans, write-offs, reserve levels, and other actions that affect financial statements and cash flow. Involving them ensures any approach aligns with the company’s credit policy and risk tolerance. A personal guarantor is not an internal decision-maker and is typically engaged for external collection actions, not policy setting. On-site employees or a lease applicant aren’t appropriate for determining collection strategy or authorization.