1) What is the difference between a traditional sale on account and a sale on installment a) There is no difference – both are still a sale. b) A sale on account requires multiple payments over time,...

1) What is the difference between a traditional sale on account and a sale on installment

1. a) There is no difference – both are still a sale.


2. b) A sale on account requires multiple payments over time, whereas a sale on installment is generally only one payment at a future date.


3. c) Most sales on installment involve the customer being charged interest.


4. d) Payment is required in periodic amounts over an extended period of time.


5. e) c and d


6. f) a, c and d