In a (an)__________________,goods and services are sold on an invoice that shows transactions;full payment is expected within a fixed time period.

Question

Quizplus · Accepted Answer

An open account is a credit account where goods and services are sold on an invoice that shows transactions, and full payment is expected within a fixed time period. This means that the buyer can purchase goods or services on credit, with the vendor expecting full payment within a specified time frame, usually within 30 or 60 days.

In a (An)__________________,goods and Services Are Sold on an Invoice