Which one of the following credit agreements provides the least protection to the seller?

Question

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An open account is an agreement in which the seller agrees to ship goods to the buyer with the expectation of payment at a later date. This type of credit agreement provides the least protection to the seller because the goods are shipped without any formal payment agreement in place. The seller is relying solely on the buyer's promise to pay at a later date. In contrast, banker's acceptances, time drafts, and commercial drafts all provide some form of financial guarantee or formal payment agreement that provides more protection to the seller.

Which One of the Following Credit Agreements Provides the Least