Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sumayyah wants to expand her successful T-shirt printing business, but she needs extra capital She finances the expansion by asking her suppliers to extend the

image text in transcribed
Sumayyah wants to expand her successful T-shirt printing business, but she needs extra capital She finances the expansion by asking her suppliers to extend the period of time before she must pay them for their goods. What type of financing resource is Sumayyah using? a.) Trade credit b.) Factoring c.) Commercial lending d.) Peer-to-peer lending a.) Correct. When suppliers agree to this, this is a form of trade credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions