Majority of commercial transactions are termed ... - JAMB Accounting 2019 Question
Majority of commercial transactions are termed credit transactions, which means
A
The buyers pay immediately for goods bought
B
Settlement is deferred to a future date
C
No account will be opened
D
Item of expenditure increases
correct option: b
In credit transactions, the settlement is at a future safe because the transfer of ownership takes place before payment to the supplier.
Please share this, thanks:
Add your answer
No responses