Credit sales - SS2 Commerce Past Questions and Answers (page 1)

1

What are credit sales?

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A

Selling goods or services for immediate cash

B

Selling goods or services at a discount

C

Selling goods or services on credit, allowing payment at a later date

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2

What is the basis for credit sales?

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A

Trust and relationship with customers

B

Availability of cash on hand

C

Competitive pricing strategy

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3

What is an advantage of credit sales?

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A

Immediate cash flow and reduced administrative costs

B

Increased sales and customer loyalty

C

Decreased competition and higher profit margins

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4

What is a potential disadvantage of credit sales?

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A

Reduced administrative costs and increased cash flow

B

Higher profit margins and decreased competition

C

Risk of bad debts and cash flow challenges

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5

What additional tasks are associated with credit sales?

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A

Product development and marketing

B

Credit checks, invoicing, and collections

C

Employee training and recruitment

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6

Define credit sales in simple terms.

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7

What is one potential advantage and one potential disadvantage of credit sales?

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Credit sales - SS2 Commerce Past Questions and Answers - page 1