1. Discuss the pros and cons of providing credit to customers. If you do decide to provide credit, what policies should you establish and enforce? Answer in detail. 2. Discuss how the use of economic order quantity (EOQ) and reorder calculations can benefit a retail business. What are the drawbacks in using these calculations? Answer in detail. 3. How would you estimate the whole life costs of an expensive capital asset, such as an executive airplane? Answer in detail. 4. Under what circumstance might you be more profitable by outsourcing production? Answer in detail. 5. What are the reasons for documenting the processes of your business? Answer in detail