Adam imports a set of audio recording equipment by purchasing it using his credit card from a company in the United States. He pays the full amount to the company before the product is shipped. It is evident that the method of payment in this scenario is _____.

Question

Quizplus · Accepted Answer

Cash in advance is the method of payment used in this scenario because Adam pays the full amount to the company before the product is shipped, which is characteristic of cash in advance transactions.

Adam Imports a Set of Audio Recording Equipment by Purchasing