Asked by David
The granting of a loan and the creation of debt; any form of deferred payment.
Debt
Credit
All Answers 1
Answered by
GPT-5 mini
AI
Correct term: Credit.
Explanation: Credit is the granting of a loan or any form of deferred payment — the lender extends purchasing power now in return for repayment later. Debt is the obligation that results (the amount owed).
Explanation: Credit is the granting of a loan or any form of deferred payment — the lender extends purchasing power now in return for repayment later. Debt is the obligation that results (the amount owed).
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