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16.3: Check Your Understanding
What is consumer credit? Identify and explain the types of consumer credit that a business might extend to customers.
Installment loans are taken out to finance what types of purchases?
Why should the due dates for trade credit repayment be carefully monitored?
Why would a business risk extending credit? Explain the cost of credit to a business owner. Describe how credit affects profit.
List five ways business can reduce credit risk.
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