Open-book credit is available only to companies that are financially strong.

Question

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Open-book credit is available to companies that may not necessarily be financially strong. It allows them to buy on credit with the understanding that they will pay within a specified period, and the creditor has access to the details of the company's financial records. This type of credit is particularly useful for smaller businesses trying to establish creditworthiness.

Open-Book Credit Is Available Only to Companies That Are Financially