Why should every credit application be signed by the applicant or an authorized officer of the applicant? There are several factors that influence the setting of the terms and conditions of a sale. These include competition, class of customer, markets, product, profitability. Please discuss how competition can influence the setting of the terms and conditions of a sale A firm is planning to eliminate the granting of discounts on sales. What does the firm need to do to estimate the expected effect on the profitability of the firm?