Question

what is the meaning of credit??​

Answer 1

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CREDIT____✔✔✔

Credit is an agreement whereby a financial institution agrees to lend a borrower a maximum amount of money over a given time period. Interest is typically charged on the outstanding balance. In the accounting world, a credit is also a journal entry reflecting an increase in assets.

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Answer 2

Credit is an agreement whereby a financial institution agrees to lend a borrower a maximum amount of money over a given time period.