Which of the following defines credit?

Question

Responses

Yearly membership or participation fees
Yearly membership or participation fees

Fees for getting cash advances
Fees for getting cash advances

The ability to acquire money, goods or services from others without immediate payment
The ability to acquire money, goods or services from others without immediate payment

Loans which will be in repayment for less than an 18 month time period

Answer 1

The correct definition of credit is: The ability to acquire money, goods or services from others without immediate payment.