QuestionJune 25, 2025

What is the best definition of credit? Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date. An individual's character, capital capacity, collateral and conditions. Money allocated to a specific account for future use by the consumer without borrowing. The ability and willingness of an individual to pay back a loan as perceived by the lender.

What is the best definition of credit? Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date. An individual's character, capital capacity, collateral and conditions. Money allocated to a specific account for future use by the consumer without borrowing. The ability and willingness of an individual to pay back a loan as perceived by the lender.
What is the best definition of credit?
Goods, services, or money received in exchange for a promise to pay a definite sum of money at a
future date.
An individual's character, capital capacity, collateral and conditions.
Money allocated to a specific account for future use by the consumer without borrowing.
The ability and willingness of an individual to pay back a loan as perceived by the lender.

Solution
4.1(392 votes)

Answer

Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date. Explanation 1. Identify the core concept of credit Credit involves receiving goods, services, or money with a promise to pay back at a future date.

Explanation

1. Identify the core concept of credit<br /> Credit involves receiving goods, services, or money with a promise to pay back at a future date.
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