Question

Credit policy cosists of the following components as:
(A) Credit period
(B) Discount
(C) Credit limit
(D) All of these

Answer 1

Answer:

A right

Explanation:

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Answer 2

The correct answer is OPTION A: Credit Period.

• A credit period is the amount of time a consumer has to pay for their purchases.
• During this time, there will be no interest levied on the outstanding debt.
• Credit terms are usually 30 to 90 days, with some companies allowing up to 180 days.
• Longer credit durations improve sales by increasing favor investment and the number of bad loans.
• The effect of a shorter credit period would be the opposite.