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What else can I help you with?
What do you call an arrangement of receiving money goods or services now in exchange for the promise of payment later?
credit
What is installment trading?
Installment trading means that a person can pay for the goods over a certain time.i.e. consumer can buy the goods first and pay for them later. Got this from my notes. :D
What happens if your card declines after a haircut?
If your card declines after a haircut, you may be asked to provide an alternative form of payment or to settle the payment at a later time. The salon may also have a policy in place for handling declined payments, such as charging a fee or suspending future services until the payment is resolved.
What does the term "credit means" refer to in the context of financial transactions?
In financial transactions, the term "credit" refers to the ability to borrow money or obtain goods or services with the promise to pay for them later.
If you defer a payment will you still have to make that payment?
yup, just at a later date - and typically a much higher amount
What is the transfer of money goods and services to a buyer with the understanding that payment will come at a later time?
This transfer of goods and services with the understanding of payment later can be one of these three things...Credit, Loan, and sometimes barter depending on the original agreement.
What do you call an arrangement of receiving money goods or services now in exchange for the promise of payment later?
credit
What do you call an arrangement of receiving money or goods or services now in exchange for the promise of payment later?
credit
How many type of transactions are there?
Two types of transactions: Cash Transactions- Where payment is made immediately by cash or cheque. Credit Transactions- Where the goods or services hands immediately but payment take place at a later time.
What is industrial market?
industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective. industrial market this are the organizations (business or nonbusiness) that require goods and services which are used in the production of goods or services thay they later sell or distribute at a profit or to satisfy an objective.
What are the uses of bank notes?
Bank notes are primarily used as a commonly accepted form of payment for goods and services. They also serve as a store of value, providing individuals with a secure way to hold wealth that can be easily exchanged for goods and services at a later time. Additionally, bank notes are essential for conducting cash transactions in situations where electronic payment methods are not feasible or accepted.
Is paying later for something you received today?
Yes, paying later for something you received today is a form of credit or deferred payment. It allows consumers to enjoy immediate access to goods or services while postponing the financial transaction. This practice can be beneficial for managing cash flow but may involve interest or fees depending on the payment agreement.
How money function as deferred payment?
Money functions as a deferred payment by allowing individuals to settle transactions at a later date without the immediate exchange of goods or services. This is facilitated through credit systems, where one party agrees to provide goods or services now in exchange for a promise of payment later. By using money as a medium of exchange, it enables flexibility in financial transactions, allowing parties to manage cash flow and fulfill obligations over time. Deferred payments can also help stimulate economic activity by enabling consumers to make purchases they might not afford upfront.
What does prepaid terms mean?
Prepayments are amounts paid for by a business in advance of the goods or services being received later on. Any payment made in advance can be considered a prepayment. A prepayment is not dissimilar to a deposit, but generally falls under a more set time period for fulfillment of the goods or service purchased.
What obtain goods and services before payment or money lent or made available both with specific guidelines for repayment?
The concept you're referring to is often called "credit." It allows individuals or businesses to obtain goods and services without immediate payment, with the understanding that they will repay the lender or provider at a later date, often with interest. This arrangement typically comes with specific terms and guidelines regarding repayment, including the payment schedule and any applicable fees or interest rates. Credit can be extended through various means, such as loans, credit cards, or purchase agreements.
What is it called when goods are taken from suppliers and are not paid for immediately?
When goods are taken from suppliers without immediate payment, it is typically referred to as "trade credit." This arrangement allows businesses to receive products or services upfront while deferring payment to a later date, often based on negotiated terms. Trade credit is a common practice in business-to-business transactions, providing flexibility in cash flow management.
What is account sales invoice?
An account sales invoice is a document issued by a seller to a buyer, detailing the goods or services provided on credit. It specifies the amount owed, payment terms, and due date, allowing the buyer to settle the account later. This type of invoice is commonly used in business transactions where immediate payment is not required. It serves as a formal request for payment and a record of the sale for both parties.
