Question

what is money and credits explain​

Answer 1

Money

Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as:

• a medium of exchange
• a unit of account
• a store of value
• occasionally, a standard of deferred payment.

Credit

A credit is an entry made on the right side of an account. It either increases equity, liability, or revenue accounts or decreases an asset or expense account. Record the corresponding credit for the purchase of a new computer by crediting your expense account.

Answer 2

Answer:

Credit is any form of deferred payment. ... The consumer is given money, which it later has to pay back to the bank. Money.Money is any item or electronic record that can be used for the purchase of goods, provide a store of account, and can be used as a medium of exchange.

Explanation:

ᴘʟs ᴍᴀʀᴋ ᴀs ʙʀᴀɪɴʟɪᴇsᴛ

ɪ ᴀᴍ ᴀʟsᴏ ᴛᴀᴍɪʟ

ᴍʏsᴇʟғ :- ᴀᴀᴅᴀʀsʜɪɴɪ

ᴄʟᴀss:- 6