Final answer:
The owner of a business must verify sources of income and credit history before approving credit purchases by customers.
Explanation:
Before approving an application for credit purchases by customers, the owner of the business must verify:
- Sources of income: It is essential to ensure that the customer has a reliable source of income to repay the credit.
- Credit history: Conducting a credit check on the customer's past borrowing helps determine their creditworthiness.
Learn more about verifying information for approving credit purchases here:
https://brainly.com/question/36266649
