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Majority of commercial transactions are termed credit transactions, which means

Majority of commercial transactions are termed credit transactions, which means
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A The buyers pay immediately for goods bought
  • B Settlement is deferred to a future date
  • C No account will be opened
  • D Item of expenditure increases
Correct Answer: Option B
Explanation:
In credit transactions, the transfer of ownership takes place before payment to the supplier i.e settlement is at a future safe.

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