Hello,

Could you help me understand the following questions for my project?

1. Predict the impact of new credit policies or a change in product or markets based on relevant rations.

- The company did not start any new credit policies in the scenario provided, is this question meant to be speculative? What are the benefits of new credit policies?

2. Explain how the four-step process was used for effectively correcting and reporting errors in the revision process.

- What is the four-step process? Is this accounting cycle or is there a specific four-step process to correcting and reporting errors?