Social Sciences, asked by assssetic7, 4 months ago

about money and credits explain​

Answers

Answered by KananKushwaha
2

Answer:

Credit

Credit is any form of deferred payment. For example, if you purchase on a credit card – a bank effectively pays on your behalf – anticipating you will pay back the amount to the credit card company in six weeks time.

If a bank lends money to a consumer, this is a form of credit. The consumer is given money, which it later has to pay back to the bank.

Money

Money is any item or electronic record that can be used for the purchase of goods, provide a store of account, and can be used as a medium of exchange.

If you buy on a debit card, you are using actual money in your bank account. You have a certain amount, and once your bank account is depleted, you can’t spend any more money. People will accept your money as legal tender in that country.

Answered by miniswetha42
1

Answer:

I know u from tamilnadu

but I already marked brainliest sry

u from

standard?

ask any questions

and give ur intro

report this answer

Similar questions