Accountancy, asked by ChaudharYMaXu01, 8 months ago

What Is Credit..???​

Answers

Answered by PriyankaPriyanka
7

Answer:

Credit is the trust which allows one party to provide money or resources to another party wherein the second Party does not remiburse the first party immediately, but promise either to repay or return those resources at a later date.

Explanation:

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Answered by priya2751
1

Credit is the ability to borrow money or access good or services with the understanding that you will pay later.

Lenders , merchants and service providers ( known collectively as creditors ) grant credit based on their confidence you can trusted to pay back what yo borrowed , along with any finance charges that may apply

Hope it helps uh

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