Final answer:
The maximum dunning level that can be assigned to a dunning procedure is 9. Dunning levels are used to escalate the urgency of payment collection from customers with overdue invoices.
Step-by-step explanation:
The maximum dunning level that can be assigned to a dunning procedure is 9. When setting up a dunning procedure in an account receivable system, various levels can be created. These levels correspond to the increasing severity and frequency of reminders sent to customers about their overdue payments. The procedure involves progressively more insistent notifications to ensure that overdue amounts are collected. Each dunning level can be associated with a different dunning notice, reflecting the length of time the invoice has been overdue and any previous notices sent.