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As noted in the text, the use of credit is considered to be one of the most important factors in the rapid growth of business today. Why do stores grant credit to customers?
When developing credit policies, which includes risk management and collection strategies, how might a store determine how much credit to extend to a customer? What factors may impact credit limits authorized to different individuals?
Identify and describe the four type of credit sales discussed in Chapter 7. What are some common traits of these transactions? Which of these has the most common impact with a business you are associated with - please describe.
Initial responses to the conversation prompt should be a minimum of 150 words; responses to other students' posts should be a minimum of 50 words. All posts must meet the originality requirements of the University of Phoenix. Direct copy & paste from resource or outside material will not count toward participation. You may use outside material, however, it must be properly cited and referenced - and the post must be substantively unique to count toward participation (a simple rule is 75% your input / 25% resource material)