Trade Credit: a. A liability arising from the purchase of goods or services from a supplier. b. Is always considered "free" credit c. May carry an opportunity cost if the supplier offers a discount for early payment. d. Answers a and care correct. e. None of the above answers are correct. Question 27 Which of the following is not commonly regarded as being part of a firm's credit policy? a. Credit period b. Collection policy c. Credit standards d. Cash discounts e. All of the statements above are components of a credit policy