When she uses her American Express card,Cathy obtains possession of goods or services when they are purchased.Payment is due when billed at a later date.American Express is a type of:

Question

Quizplus · Accepted Answer

American Express is an open charge account, which means that the cardholder can make purchases up to a certain credit limit without having to pay the balance in full each month. Instead, the balance is due when billed at a later date.

When She Uses Her American Express Card,Cathy Obtains Possession of Goods