Response to the following problem:
In groups of three or four, determine how credit is typically granted to customers. Interview an individual responsible for granting credit for a bank, a department store, an automobile dealer, or other business in your community.
You should ask such questions as the following:
1. What procedures are used to decide whether to grant credit to a customer?
2. What procedures are used to try to collect from customers who are delinquent in their payments?
3. Approximately what percentage of customers' accounts are written off as uncollectible in a year? Summarize your findings in a report to the class.