Explain money and creadit only in one page please send as soon as possible class 10
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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.
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.
Samarth41:
please mark as brainlest
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money is capital
and credit is loan
thk happy2018
and credit is loan
thk happy2018
if like than mark branliest
answer in one page not in one line
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