Final answer:
A customer who purchases an item on account is essentially buying on credit, allowing them to receive the item without immediate payment.
Step-by-step explanation:
A customer who purchases an item on account is essentially buying on credit. Instead of paying for the item immediately with cash or a debit card, the customer is given the option to pay at a later date, usually within a specified timeframe. This allows the customer to receive the item they want without having to make an immediate payment.
For example, let's say a customer purchases a laptop on account. They would receive the laptop right away but wouldn't have to pay for it until a later date, as agreed upon with the seller. This gives the customer the flexibility to make the payment when they have the funds available.
This practice is commonly used in businesses where customers have established accounts or have a good credit history. It allows customers to make larger purchases without having to pay the full amount upfront.