Questions: A proper use of open account credit would be to buy a washing machine.

A proper use of open account credit would be to buy a washing machine.
Transcript text: A proper use of open account credit would be to buy a [food i washing machine].
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Solution

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The answer is: washing machine.

Explanation:

  • Food is typically a recurring expense that should be covered by your regular income or budget, not by credit. Using credit for everyday expenses like food can lead to accumulating debt that is difficult to pay off.
  • A washing machine, on the other hand, is a durable good and a one-time purchase that can be considered a proper use of open account credit. It is a necessary household appliance that can be paid off over time, making it a more appropriate use of credit.

In summary, using open account credit to buy a washing machine is a more financially sound decision compared to using it for food.

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