Question

what do u mean by terms of credit? i need the correct meaning for the word "terms of credit”. pls answer it in simple way.plssssssss...

Answer 1

Credit is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some date in the future, generally with interest.
Credit also refers to an accounting entry that either decreases assets or increases liabilities and equity on the company's balance sheet

Answer 2

Answer: Credit refers to an agreement in which the lender supplies the borrower with
money, goods or services in return for the promise of future payments with
interest.,