The main references are:
All those accounts decreases with debit which normal or default balances are credit for example all liabilities or incomes are decreased with debits because their default balances are credit balance.
The credit score is needed by companies in order to evaluate the risk of a possible credit default, for example if one applies for a consumer credit or a bank account.
yes, if you are done paying with itAdditional answerBut if you're late making a payment to settle a debt (credit card, for example) this will be recorded as a default.
Yes, if you default on any loan it will affect your credit rating negatively.
The buyer of a credit swap receives credit protection, whereas the seller of the swap guarantees the credit worthiness of the product. By doing this, the risk of default is transferred from the holder of the fixed income security to the seller of the swap. For example, the buyer of a credit swap will be entitled to the par value of the bond by the seller of the swap, should the bond default in its coupon payments.
The agreement for a credit default swap is a document that states the buyer will reimburse the holder in the event of a loan default or other credit event. This is essentially insurance against someone not paying you what you are owed.
All revenues has credit balances as default balance like wise rent revenue also has credit balance as default balance instead of debit balance because all expenses has debit as default balance.
yes if they default it will hurt your credit yes if they default it will hurt your credit
yes if they default it will hurt your credit yes if they default it will hurt your credit
Yes
All assets and expenses has debit side as default side while all incomes and liabilities have credit side as default.
No all revenues has credit balance as default balance while all expenses has debit balance as default normal balance.