Single Answer MCQ
Q-00015871
What is credit?
1
A form of tax payment
2
An agreement for future payment in exchange for goods or services
3
A type of government subsidy
4
A fine imposed for late payment
Answer and Solution
Answer
B. An agreement for future payment in exchange for goods or services
Solution:
Credit is defined as an agreement where the lender provides money or goods with a promise of future payment, making option B correct. The other options are unrelated to the concept of credit.
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