• Imagine yourself as proprietor of any firm you like. Describe briefly the products or services your firm will offer for sale.
• Would you extend trade credit to your customers? (Do not discuss credit card payments, but rather, direct credit to your customers.) Why or why not?
• How will this decision affect your sales and profits?
• If you choose to extend credit, how would you ensure that your firm is paid by its customers? How would you account for those who fail to pay?