Majority of commercial transactions are termed credit transactions, which means
Majority of commercial transactions are termed credit transactions, which means
A
The buyers pay immediately for goods bought
B
Settlement is deferred to a future date
C
No account will be opened
DItem of expenditure increases
Answer is B
In credit transactions, the settlement is at a future safe because the transfer of ownership takes place before payment to the supplier.
Tag:2019 Jamb Accounting, Jamb, Jamb 2019 accounting questions and answers, Jamb 2019- financial accounting questions and answers, Jamb Accounting, Jamb accounting past questions, Jamb accounting past questions and answers, Jamb Accounts, Jamb financial accounting, Jamb financial accounting questions and answers, Jamb past questions and answers on accounting, Jamb past questions and answers on financial accounting, Joint Admissions and Matriculation Board
