The type of credit where the consumer takes possession of the goods and the business then bills the consumer is known as a/an ______.

Name: The type of credit where the consumer takes possession of the goods and the business then bills the consumer is known as a/an ______.
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

An open charge account is a type of credit arrangement where the consumer takes possession of goods or services before payment, with the business billing the consumer at a later date, typically within a specified billing cycle.

The Type of Credit Where the Consumer Takes Possession of the Goods