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Collection policy refers to the: Group of answer choices set of guidelines used by a firm to determine the cost of offering credit to its customers. daily process of handling cash inflows and outflows of cash. process of determining which customers will be granted credit. process of determining the probability that customers will not pay. set of procedures a firm follows in collecting accounts receivable.

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Answer:

set of procedures a firm follows in collecting accounts receivable

Explanation:

Collection policy can be defined as series of procedures or processes that are followed by an organization to make sure that it's account receivable are paid on time. Such a policy has to be written and it must also be followed up closely. These policies can be different for various organizations or companies. Therefore the selected answer is the right answer to the question.

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