Credit
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

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

    More Like This

    Credit and Debt History Flashcards
    20 questions

    Credit and Debt History Flashcards

    VeritableSparkle avatar
    VeritableSparkle
    Personal Finance Chapter 4: Credit Score & Bureaus
    20 questions

    Personal Finance Chapter 4: Credit Score & Bureaus

    SpellboundEllipsis avatar
    SpellboundEllipsis
    Understanding Credit Scores and Lending Practices
    37 questions

    Understanding Credit Scores and Lending Practices

    PromisingStonehenge avatar
    PromisingStonehenge
    Credit and Loans Flashcards
    16 questions

    Credit and Loans Flashcards

    LoyalLanthanum avatar
    LoyalLanthanum
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser