Question

Jim roy visits the doctor for his annual check-up which costs $85. he is billed for this at the end of the month. what type of credit did jim use? installment sales credit installment cash credit single lump sum credit revolving credit incidental credit

Answer 1

The type of credit that Jim used is the revolving credit. This type of credit is a way of paying debts in which is automatically being renewed. We could see it in the given scenario above as he is being billed by every end of the month due to his annual check up.