Credit
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Questions and Answers

What does the term 'credit' signify?

  • Denying trust or confidence in somebody
  • Borrowing money without the intention of repayment
  • Reposing trust or confidence in somebody (correct)
  • Receiving money without the intention of repayment

    • How can credit be classified?

  • According to the status of the debtor, time period, and purpose (correct)
  • According to the type of paper used for documentation
  • According to the number of witnesses present during the transaction
  • According to the color of the currency used

    • What are the various types of credit classified based on?

  • Status of the debtor, time period, and purpose (correct)
  • Number of witnesses, time of the day, and location of the transaction
  • Type of currency, language used, and debtor's occupation
  • Size of the transaction, color of the debtor's clothes, and purpose

    • What are some characteristics of credit that are of prime importance?

    <p>Solvency of the person, making payments, and receiving deposits</p> Signup and view all the answers

    What does the word 'credit' signify in economics?

    <p>Trusting in the solvency of a person or making a payment to receive it back after some time</p> Signup and view all the answers

    What does the Latin word 'credo' mean?

    <p>Trust or confidence reposed in another person</p> Signup and view all the answers

    How can credit be classified?

    <p>According to the status of the debtor, time period, and purpose</p> Signup and view all the answers

    What does the term 'credit' signify in economics?

    <p>Trusting in the solvency of a person or making a payment to receive it back after some time</p> Signup and view all the answers

    What are some characteristics of credit that are of prime importance?

    <p>Trustworthiness, reliability, and solvency of the debtor</p> Signup and view all the answers

    What are the various types of credit classified based on?

    <p>Status of the debtor, time period, and purpose</p> Signup and view all the answers

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