To buy goods on credit means to5
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Q: To buy goods on credit means to
- 1promise to pay for goods later.true
- 2pay only a discount price.false
- 3promise to pay only a sale price.false
- 4pay cash for goods.false
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- चर्चा
Answer : 1. "promise to pay for goods later."
Explanation :
Answer: A) promise to pay for goods later. Explanation: If as a business, you buy goods or services on credit from a supplier (accounts payable) then the supplier will supply the goods and business will incur a liability to the supplier for that amount, but no cash will change hands at that stage. Some of those shop keepers allowed regular "trustworthy" customers to purchase items without having the full payment. Hence, Buying on credit means that no actual money has changed hands.