BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Receiving goods and services now and paying for them later
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The process of depositing money into your savings the day you receive it so you have savings later
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Having ownership of a company based on how many stocks you have bought
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Accumulating money each month for emergencies
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Detailed explanation-1: -Trade credit is a type of commercial financing in which a customer is allowed to purchase goods or services and pay the supplier at a later scheduled date. Trade credit can be a good way for businesses to free up cash flow and finance short-term growth.
Detailed explanation-2: -with payment to be made at a future date. See full dictionary entry for credit.
Detailed explanation-3: -Definition: To purchase something with the promise that you will pay in the future. When buying something on credit, you acquire the item immediately, but you pay for it at a later date.
Detailed explanation-4: -Credit is an arrangement to receive cash, goods, or services now and pay for them in the future. Consumer credit is the use of credit for personal needs. It is also an indicator of consumer spending and demand.
Detailed explanation-5: -There are mainly three trade credit types: trade acceptance, open account, and promissory note.