Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 28 - No. 40)
Which of the following statements accurately describes a credit sale?
Goods are sold for cash.
Goods are sold with immediate payment.
Goods are sold with payment due at a later date.
The seller makes a loan to the buyer.
Explanation
A credit sale involves the sale of goods with payment deferred to a future date.
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