Define the terms:
1. Cheque
2. Collateral
3. Money
4. Credit
5. Asset
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Answers
cheque :-A cheque is a paper instructing the bank to pay a specific amount from the person’s account to the person in whose name the cheque has been drawn.
collateral :-something pledged as security for repayment of a loan, to be forfeited in the event of a default
money:-Economists, however, have a language all their own when it comes to money. They define it as something that serves as a medium of exchange, a unit of accounting, and a store of value. Money is a medium of exchange in the sense that we all agree to accept it in making transactions.
credit:-Credit is a broad term that has many different meanings in the financial world. ... Creditalso refers to the creditworthiness or credit history of an individual or company. It also refers to an accounting entry that either decreases assets or increases liabilities and equity on a company's balance sheet
asset:-An asset is a resource with economic value that an individual, corporation or country owns or controls with the expectation that it will provide a future benefit. Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations.
Answer:
cheque : a cheque is a piece opper instructing the bank to transfer the money from the persons account to another persons account in whose name the cheque has been issued
2.collateral: a collateral can be an asset or some important documents that act as guarantee or assurity for the bank ;when they give loans
3.money: money is something that acts as medium of exchange to buy goods or anything else
4.credit: the giving of loans from bank is known as credit
5: asset: it may be a property or document that is of your own ...
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Explanation: