Why is credit important to businesses

Assignment Help Management Theories

Reference no: EM133424646

Questions:

Why is credit important to businesses? Give an example to illustrate your point. How would a business that did not have access to credit be limited? Provide an example for this as well.

Describe a situation where using credit would be wise and one in which the use of credit would be unwise. Explain the difference.

Imagine you own a business and want to extend credit to customers. What kinds of resources are available to you to validate their credit history? What factors other than credit might you consider?

A car dealership will help customers finance cars. What is the dealership legally obligated to tell customers about these loans? Why is this important information for consumers?

If a business decides that it is going to extend credit to customers, what will the business need to do to minimize the risk for itself and the customers? What happens if the business fails to take these steps?

Reference no: EM133424646

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