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CIPS Exam L4M4 Topic 1 Question 8 Discussion

Actual exam question for CIPS's L4M4 exam
Question #: 8
Topic #: 1
[All L4M4 Questions]

Which of the following payment mechanisms is most beneficial to the buyer?

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Suggested Answer: A

Open account (aka credit account) is most beneficial to the buyer. The supplier delivers the goods then the buyer pays.

Cash in advance is most beneficial to the supplier. The buyer pays for the item before receiving it.

This is a known exam topic.


by Eden at Apr 24, 2024, 04:18 PM

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Mirta
10 months ago
That's true, but with cash in advance, the buyer has control over the payment and avoids any risks.
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Matilda
11 months ago
I see your point, but open/credit account allows the buyer to pay later and build trust with the seller.
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Willetta
11 months ago
I disagree, I believe sight draft is better because the buyer can inspect the goods before paying.
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Mirta
11 months ago
I think cash in advance is most beneficial to the buyer.
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Lorita
12 months ago
That's true, but cash in advance provides the most protection.
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Alexia
12 months ago
Sight draft is also secure for the buyer.
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India
12 months ago
I agree, it eliminates the risk for the buyer.
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Lorita
12 months ago
Cash in advance is the most beneficial to the buyer.
upvoted 0 times
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