Your account with the utility company is an example of open account credit.

Name: Your account with the utility company is an example of open account credit.
Brand: Quizplus
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An open account credit is a type of credit where a company extends a line of credit to a customer without specifying the terms of the credit in advance. This allows the customer to make purchases on credit and pay for them at a later date. Utility companies typically provide open account credit when they bill customers for their monthly usage.

Your Account with the Utility Company Is an Example of Open