The credit period given by a seller to a buyer depends upon the credit period enjoyed by the seller for his purchases.
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- You will get 50 days of credit period from the date of purchase.
- When people buy property and agree to pay for it later, they are buying on credit.
- Letter of credit is issued by the seller's / exporter' s bank.
- A firm can not have a strict credit policy in case its products are in demand.
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