Question

write a short note on term of credit

Answer 1

Hey, here is your answer

It is a way of buying goods or services and not paying for them until later or a sum of money that a bank etc lends to somebody or to add money to a bank account.

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Answer 2

The terms which indicate when payment is due for sales made on account (or credit). For example, the credit terms might be 2/10, net 30. This means the amount is due in 30 days; however, if the amount is paid in 10 days a discount of 2% will be permitted.