Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 44 - No. 23)
Which of the following is an example of a credit transaction?
A customer pays cash for a product.
A company purchases supplies and pays immediately.
A customer promises to pay for a product at a later date.
A company receives a loan from the bank.
Explanation
A credit transaction means the buyer will pay at a later date.
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