With ____, the customer obtains possession of goods or services when they are purchased, with payment due when billed at a later date.
A) an open charge account
B) an installment account
C) a revolving account
D) a selective account

Question

Quizplus · Accepted Answer

An open charge account allows the customer to take possession of goods or services when they are purchased, with payment due at a later date when billed. Installment accounts require payments in fixed, scheduled installments over time, while revolving accounts allow customers to continuously borrow, repay, and borrow again up to a credit limit. Selective accounts are not a common type of credit account.

With ____, the Customer Obtains Possession of Goods or Services