The Benefit of Extending Credit to Customers Is the Potential

question 143

True/False

The benefit of extending credit to customers is the potential increase in sales.

---

Definitions:

FICA Taxes

Taxes imposed on both employees and employers to fund Social Security and Medicare, based in the United States.

Payroll Records

Documentation related to employees’ pay, including details of salaries, wages, bonuses, deductions, and taxes, maintained by an employer.

Journal Entry

An accounting entry documenting the specifics of a financial deal.

Current Liability

A company's debts or obligations that are due within one year.