A commitment is a legal obligation that does not meet the technical requirements for recognition as a liability. true b. false When taking a physical inventory under the retail method, it is necessary to know only the quantity of items on hand. a false b. true Which of the following companies would be most likely to use the retail method? O a. Afarm supply company O b. A women's dress shop, Oc. A dealer in heavy machinery O d. A TV repair company n n A successful credit policy balances an acceptable level of credit losses with the potential for profit from total credit sales. a. false at b. true stion Which of the following statements is true about factoring without recourse? O a. The fee will be lower than if the factoring were with recourse. O b. The seller of the receivables is liable upon default of the debtor. O c. The factor's risk is lower than if the factoring were with recourse. O d. An example is the use of major credit cards