When a Company Gives Credit to a Customer, It May

question 169

Multiple Choice

When a company gives credit to a customer, it may create which of the following?

• A) a retainer account
• B) an installment account
• C) an open account
• D) an installment account or an open account
• E) an installment account or an open account or a retainer account

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Definitions:

Future

In a general context, 'future' refers to the time or a period of time following the moment of speaking or writing; in finance, it often pertains to a contract to buy or sell an asset at a later date.

Exaggeration

A statement that represents something as better or worse than it really is, often used for emphasis or effect.

Fraud

The intentional deception or misrepresentation made by a person with the aim of gaining something of value or causing some benefit to themselves at another’s expense.

Innocent Party

An individual or entity not responsible or involved in the wrongdoing or legal dispute in question.