Credit and Collection 1

- every business needs in order to keep the cash flowing

Answer explanation

Credit Management plan

- ability of a borrower to obtain goods or services before making payment, based on a trust that the payment will be made in the future.

Answer explanation

Credit

- a contract agreement in which a borrower receives a sum of money or something of value and repays the lender at a later date, generally with interest.

Answer explanation

Credit

- a contract agreement in which a borrower receives a sum of money or something of value and repays the lender at a later date, generally with interest.

Answer explanation

Credit

creditworthiness or credit history of an individual or a company.

Answer explanation

Credit

ability to access goods or services or borrow money with the understanding that you'll pay later.

Answer explanation

Credit

tool than can help you buy things you need now and pay for them over time.

Answer explanation

Credit

They contributed to the development of the credit concept.

Answer explanation

- economic theorist

- financial institutions

- policymakers

Types of Credit

- allows borrowers to repeatedly borrow up to a certain credit limit.

Answer explanation

Revolving Credit

Types of Credit :

credit cards are the most common example of

Answer explanation

Revolving Credit