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Credit allows retailers to manage cash flow by enabling them to purchase inventory without immediate payment, ensuring they can stock their shelves and meet customer demand. It also helps retailers invest in marketing and expansion, facilitating growth opportunities. Additionally, credit can enhance customer experience by providing flexible payment options, encouraging higher sales volumes. Ultimately, credit serves as a crucial tool for financial stability and operational efficiency.
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Nature and function of credit?
nature and function of credit
What is the function of a credit card company?
A credit card company act as a 'liaison' between the customer and the business. The customer presents their credit card to the retailer - and the card company pays the retailer for the goods the customer has purchased. The card company charges the customer interest each month on the outstanding balance - in payment for the convenience of being able to make (often expensive) purchases, without having to h=cary large amount of cash.
Who may perform storage function of distribution in economy?
The producer, wholesaler, or retailer may perform this function.
A retailer that sells goods and service in conjunction with credit card companies is called?
syndicator
What practice is allowed a product to be purchased using credit provided by the retailer?
the installment plan
What has the author E A Sykes written?
E A. Sykes has written: 'Credit and the independent retailer'
What is the function of credit note?
Functions of credit note
What is the easiest method of getting Online Credit?
Online Credit can be obtained in a variety of ways. A store credit card can be opened and used to build online credit. When a retailer extends a customer a line of credit a history is recorded.
Does the Goldfish credit card have a rewards program?
Yes, the Goldfish credit card does have a rewards program. You can get retailer discounts and various different rewards by owning a goldfish credit card.
Is it legal for retailer to store credit card numbers?
No it is not !If a person pays for goods or services by credit card, the Credit Card Company is the only organisation allowed to retain details about the customers card.
Is credit card use consider interstate commerce?
Yes - a credit card can be used all over the world - providing the retailer accepts the card (which most do !)
What are the options available for purchasing a computer on credit?
The options available for purchasing a computer on credit include using a credit card, applying for a store credit card, or financing through the computer retailer or a third-party financing company.
