Small Companies Have the Following Three Options for Selling to Customers

question 96

Multiple Choice

Small companies have the following three options for selling to customers on credit: ________.

• A)credit cards, manufacturer credit, and trade credit
• B)credit cards, installment credit, and trade credit
• C)credit cards, installment credit, and poor credit
• D)debit cards, installment credit, and trade credit

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Definitions:

Payroll Tax

Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay to their staff.

Note Payable

A written promise to pay a specific amount of money, usually with interest, by a certain date.

Borrower

An individual or entity that takes money or property from another under an agreement to return it or its equivalent at a future date.

Creditor

An entity or person to whom money is owed by a debtor for goods supplied or loans given.