Jacob lives in the agricultural period. To purchase a new buggy and farm implements from the general store, gives the owner a note that specifies that a certain quantity of goods be set aside for him in a warehouse. Such an arrangement is an example of ________.

Question

Quizplus · Accepted Answer

The arrangement described is an example of deposit receipts, where Jacob gives the store owner a note specifying a quantity of goods to be set aside for him in the warehouse. This note acts as a receipt for the deposit Jacob has made, similar to a bank deposit receipt.

Jacob Lives in the Agricultural Period