Credit extended in connection with goods purchased for resale is called:
A)commercial paper.
B)bank loans.
C)trade credit or payables.
D)commercial credit.

Question

Quizplus · Accepted Answer

Trade credit or payables are credit extended by suppliers in connection with goods purchased for resale. Commercial paper refers to short-term unsecured promissory notes issued by corporations, while bank loans involve borrowing money from banks. Commercial credit is a general term that can refer to any type of credit extended by commercial lenders.

Credit Extended in Connection with Goods Purchased for Resale Is