Cash payments received before a product is completed or delivered are called _____.

Name: Cash payments received before a product is completed or delivered are called _____.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Deposits and progress payments are typically received before a product or service is completed or delivered. Overdrafts refer to when a bank account has a negative balance, discounted payments refer to when money owed is paid back at a lower amount than originally owed, and payables refer to debts owed to suppliers or vendors.

Cash Payments Received Before a Product Is Completed or Delivered