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1)What are the primary reasons a firm holds a liquid asset balance? 2)Describe the cost trade-offs associated with maintaining the following: a. Excessive liquid asset

1)What are the primary reasons a firm holds a liquid asset balance?

2)Describe the cost trade-offs associated with maintaining the following:

a. Excessive liquid asset balances

b. Inadequate liquid asset balances?

3)What are the major credit policy variables a firm can use to control its level ofreceivables investment?

4)Describe the three steps involved in evaluating credit applicants.

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