BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment.
Detailed explanation-2: -What Is Credit? The word “credit” has many meanings in the financial world, but it most commonly refers to a contractual agreement in which a borrower receives a sum of money or something else of value and commits to repaying the lender at a later date, typically with interest.
Detailed explanation-3: -Credit is also called creditworthiness or the credit history of a company.
Detailed explanation-4: -The definition of credit is the ability to borrow money with the promise that you’ll repay it in the future, often with interest. You might need credit to purchase a product or use a service that you can’t pay for immediately.
Detailed explanation-5: -a payment you make by credit card for something you buy: We will also accept credit card payment for online and mail order sales.