Credit Cards Have All of the Following Advantages, Except

question 7

Multiple Choice

Credit cards have all of the following advantages, except

• A) they allow you to borrow cash interest free for 60 days.
• B) you can make purchases without carrying cash.
• C) you obtain free financing until the bill is due.
• D) you receive an itemized monthly statement.

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Definitions:

Wholesaler

A type of intermediary in the distribution channel that purchases goods in large quantities from manufacturers or importers and sells them to retailers or other businesses.

Conforming Goods

Merchandise or products that meet the specifications and standards outlined in a purchase contract.

Acceptance

A promise or act on the part of an offeree indicating a willingness to be bound by the terms and conditions contained in an offer. Also, the acknowledgment of the drawee that binds the drawee to the terms of a draft.

Purchase Order

A document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.