Asked by
Angel Farris
on Dec 09, 2024
Verified
An increase in product cost will tend to lead to longer credit periods.
Product Cost
The total cost incurred to produce a product or deliver a service, including materials, labor, and overhead expenses.
Credit Periods
Refers to the specific lengths of time granted by suppliers to customers in which they can pay for goods or services without incurring any interest charges.
- Identify the influence of market competition and the cost of products on the duration of credit terms extended.
Verified Answer
SF
Learning Objectives
- Identify the influence of market competition and the cost of products on the duration of credit terms extended.
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