10. Analyzing proposed changes in credit policy A credit policy covers how customers qualify for credit, the maximum amount of credit that customers are allowed, the terms of credit sales, and what actions will be taken if customers do not pay on time. To ensure that the credit policy is being followed and that it is achieving the desired objective, it should be monitored. If customers' payment patterns change significantly, the firm should consider changing its credit polley Which statement best describes whether a proposed change in credit policy should be implemented? A policy should be implemented or the added benefits exceed the costs based on present value A policy that provides the lowest bad debts with the least amount of affort should be implemented A policy that increases sales volume should be implemented A policy with the least effect on sales should be implemented