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What factors should be taken into account when extending credit to customers????
-credit risk : you have to define the amount of risk your firm is willing to accept.
-credit term: you have to decide how much credit you are willing to extend, and how long can you afford to wait for payment.
– credit application- determine creditworthiness.
I don’t know whether I’m right or wrong.
It is OK 🙂
This is all covered in Chapter 5 of our free lecture notes and the free lectures working through that chapter.
The lectures are a complete free course for Paper FM and cover everything needed to be able to pass the exam well.