Answered

Which information must be verified by the owner of the business before approving an
application for credit purchases by customers? Provide TWO points.

Verified Answer :

GinnyAnswer

Final answer:

The owner of a business must verify sources of income and credit history before approving credit purchases by customers.


Explanation:

Before approving an application for credit purchases by customers, the owner of the business must verify:

  1. Sources of income: It is essential to ensure that the customer has a reliable source of income to repay the credit.
  2. Credit history: Conducting a credit check on the customer's past borrowing helps determine their creditworthiness.

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