Sales on credit cards which are NOT associated with a bank are reported as credit sales, NOT cash sales.

Name: Sales on credit cards which are NOT associated with a bank are reported as credit sales, NOT cash sales.
Brand: Quizplus
Rating: 5.0 (54 reviews)

Question

Quizplus · Accepted Answer

Sales on credit cards that are not associated with a bank are reported as credit sales because the customer is essentially taking out a loan (from the credit card company) to purchase the item. This is considered a credit transaction, not a cash transaction.

Sales on Credit Cards Which Are NOT Associated with a Bank