Social Sciences, asked by jatin213, 1 year ago

what do you understand by the terms of credit

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Answered by vamshi69
83
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.
Answered by pranay0144
23

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