Question

What is cradit answer in points

Answer 1

Explanation:

• 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.
• An example of credit is the amount of money available to spend in a bank charge account, or the funds added to a checking account.