Based on the business you started in Week 1, answer the following questions in one to two paragraphs. Use laws, examples or cases to support your response.

• Consider the product or service you selected in Week 2.Describe how you plan to structure extension of credit to your customers to ensure the most protection for your company in the event the customer falls behind on payments or files for bankruptcy. Assume that your business will offer some type of credit arrangements even if you do not have plans to offer the credit option.
• What type(s) of insurance policies will you need for your business? Identify a company located in your state that can supply at least one of the insurance policies you will need.