Non-payment of debt on time results in ______.

Question

KollegeApply · Accepted Answer

Non-payment of debt on time results in higher interest cost, loss of goodwill and fines and penalties. Explanation: • Higher interest cost: Delayed payments often attract higher interest rates or penalties. • Loss of goodwill: Non-payment damages the company’s reputation among suppliers, creditors, and the public. • Fines and penalties: The company may be liable for legal fines and additional penalties for breach of terms.

AChoose Your Answer