THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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debit
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credit
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installments
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stock
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Detailed explanation-1: -In this sense, debits are viewed as money drawn from our bank account, and credits are viewed as money available to spend or borrow from the bank. This is how debits and credits are represented on your bank account statement.
Detailed explanation-2: -Credit in Lending and Borrowing There are many different forms of credit. Common examples include car loans, mortgages, personal loans, and lines of credit. Essentially, when the bank or other financial institution makes a loan, it “credits” money to the borrower, who must pay it back at a future date.
Detailed explanation-3: -The principal–the money that you borrow. The interest–this is like paying rent on the money you borrow.
Detailed explanation-4: -A credit is a more flexible form of finance that allows you to access the amount of money loaned, according to your needs at any given time. The credit sets a maximum limit of money, which the customer can use in part or in full. The customer may use all the money provided, part of it or none at all.