5 Extending credit to a customer has three major components: O a polioy on how c

Question

5 Extending credit to a customer has three major components: O a polioy on how customers will qualify f o a policy on how customers will qualily for credit, a policy on the payment plan allowed creditors, and a O a policy on how O a policy on how customers will qualify for credit, a policy on the payment plan all will qualify for credit, a policy on paying commissions on sales, and a policy for ales, and a policy for collecting overdue bills. policy on accounting for depreciation. paying commissions on sales. policy for collecting overdue bills customers will qualify for credit, a policy on accounting for depreciation, and a policy on owed creditors, and a

Explanation / Answer

A) a policy on how customers will qualify for credit, a policy on the payment plan allowed creditors, and a policy for collecting overdue bills. The three major components of extending credit are Credit Screening , Defining Payment Policy and collection of overdue bills.

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