What do you understand by the term credit?
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the term credit refers to the ability of a customer to perform any service
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credit is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some later date with consideration, generally with interests .credit also refers to an accounting entry that either decreases assets or increases liabilities and equity on the company's balance sheet.
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credit is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some later date with consideration, generally with interests .credit also refers to an accounting entry that either decreases assets or increases liabilities and equity on the company's balance sheet.
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