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Good and services transferred from seller to buyer without immediate payment is referred to as

Commerce
JAMB 2023

Good and services transferred from seller to buyer without immediate payment is referred to as

  • A. leasing
  • B. hire purchase
  • C. credit sale
  • D. mutual understanding
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Correct Answer: Option C
Explanation

A credit sale is a sale in which the customer does not pay in full at the time of purchase, but agrees to pay later. The seller transfers the ownership of goods or services to the customer and expects to receive payment in the future.

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now