A firm's collection policy, i. e., the procedures it follows to collect accounts receivable, plays an important role in keeping its average collection period short, although too strict a collection policy can reduce profits due to lost sales. a) true
b) false

a) true

Explanation:

The average collection period could be computed by

= Total number of days in a year ÷ account receivable turnover ratio

It determines the number of days in which the customers pay the amount to the company.

If the payment is made within the prescribed time or early so it shows the goods performance else it reflects the worst performance

Therefore according to the given situation, if there is strictness in collection policy which ultimately reduced profit due to lost sales plays a very important role in shorten the collection period

the world_record_egg gained more than 25 million likes in just 10 days after posting a image of an egg on 4 january with the caption: “let’s set a world record together and get the most liked post on instagram.”

explanation: i am going to tell you a lie dont know i just wanted to answer lol