If You Extend Credit for a One-Time Sale to a New

question 93

Multiple Choice

If you extend credit for a one-time sale to a new customer you risk an amount equal to:

• A)the sales price of the item sold.
• B)the variable cost of the item sold.
• C)the fixed cost of the item sold.
• D)the profit margin on the item sold.
• E)zero.

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Definitions:

Strategic Planning

A systematic process for envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.

Leadership

The ability to guide, direct, or influence people towards achieving a common goal.

Consulting

A professional service provided by experts who advise businesses or individuals in their specialized fields.

Accountability

Accountability refers to the obligation of individuals or organizations to account for their activities, accept responsibility for them, and disclose the results in a transparent manner.