Which of the following credit approval procedures would be the basis for developing a deficiency finding for a wholesaler?
a. trade-credit standards are reviewed and approved by the finance committee of the board of directors.
b. customers not meeting trade-credit standards are shipped merchandise on a cash-on-delivery (c. o.d.) basis only.
c. salespeople are responsible for evaluating and monitoring the financial condition of prospective and continuing customers.
d. an authorized signature from the credit department denoting approval of the customer's credit is to appear on all credit-sales orders.