Social Sciences, asked by siddarth612, 1 year ago

what do you understand by the term credit

Answers

Answered by raiyankhan4545pcon67
42

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.


siddarth612: thanks for the answer
Answered by nitin123ace
4

interest rate on credit

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