what do you mean by credit ?
Answers
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
"I've got unlimited credit"
What do you mean by credit?
Credit refers to capacity, which refers to the ability to borrow or lend.
Credit in business is a process which is a measure of the capacity in which the concerned debtor provides a good or service to the creditor on the promise of payment after a certain period of time.
Credit is a form of trust that the seller expresses to the buyer. If the buyer buys an item from the seller and does not pay immediately, but promises to pay later after a certain period, it is credited.
This credit refers to the ability of the seller to provide an item or service to the buyer without immediate payment and is willing to bear the amount of the item until payment is received.
Credit is a type of credit, which is extremely essential for any business. All business runs on credit.
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Know something more...
WHICH OF THE FOLLOWING MAY HAVE A DEBIT OR CREDIT BALANCE?BILLS PAYABLE ACCOUNT.
CREDITORS.
PLANT ACCOUNT.
BANK ACCOUNT.
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Which one is a qualitative measure of credit control?
(a) Bank rate
(b) Open market operation
(c) CRR
(d) Margin requirement