What term refers to an agreement made between a buyer and a seller regarding the purchase of a capital asset such as a truck?
A) a conditional sales contract
B) factoring
C) a long-term loan
D) a working capital loan

Question

Quizplus · Accepted Answer

A conditional sales contract is an agreement made between a buyer and a seller where the buyer takes possession of an asset (like a truck), but its title and right of repossession remain with the seller until the purchase price is paid in full.

What Term Refers to an Agreement Made Between a Buyer