chapter 14 15 - Ch 14 1-10 1. Mike Solomich 2. 3. 4. 5. 6....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Ch 14 1-10 Mike Solomich Ch 15 1-15 1/20/09 1. The position of the business credit manager continues to grow in importance because practically all production and marketing institution rely on business credit for short-term financing. Also business credit is a customary means of selling goods and services and the volume of business credit is far larger than other types of credit. Credit executives are assuming the duties of business advisers. 2. The Credit Research Foundation, Inc. maintains a close affiliation with the NCAM, was established to carry on research and education in credit and financial management. The National Institute of Credit lists major services provided to members. 3. The position of the business credit manager continues to grow in importance because practically all production and marketing institution rely on business credit for short-term financing. Also business credit is a customary means of selling goods and services and the volume of business credit is far larger than other types of credit. Credit executives are assuming the duties of business advisers. 4. The reasons for credit department to be in the sales area is because both sales and credit have the same objective-to maximize sales and salespeople can help father credit information. Also the closer cooperation results between sales and credit personnel. The reasons for credit department in the financial area is the control of funds invested in accounts receivable is improved. A better working relationship between the treasurer and credit manager is fostered. The current financing of the company is closely related to the performance of the credit department. The total
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

chapter 14 15 - Ch 14 1-10 1. Mike Solomich 2. 3. 4. 5. 6....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online