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What is the difference between credit and debt?
Credit refers to money that is borrowed with the expectation of repayment, often with interest. Debt, on the other hand, is the amount of money that is owed to a lender or creditor. In simple terms, credit is the ability to borrow money, while debt is the amount that has been borrowed and needs to be repaid.
Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
Is The balance on a credit card is a liability?
Yes.... a credit card balance is money owed by the card-holder to the company. Therefore it is a liability.
What is debt?
Outstanding balance in your loan account or credit card account that remains unpaid beyond the due date. It's the debtor's obligation to repay such dues to the creditor.
Can you explain what does "in credit" mean in financial terms?
"In credit" in financial terms means that a person or entity has a positive balance in their account or has money owed to them. It indicates that they have funds available to use or that they are owed money by someone else.
What is the difference between credit and debt?
Credit refers to money that is borrowed with the expectation of repayment, often with interest. Debt, on the other hand, is the amount of money that is owed to a lender or creditor. In simple terms, credit is the ability to borrow money, while debt is the amount that has been borrowed and needs to be repaid.
Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
What is the opposite word to debt?
creditThe opposite of debit is credit. A debit is something owed. A credit is something gained.
Is The balance on a credit card is a liability?
Yes.... a credit card balance is money owed by the card-holder to the company. Therefore it is a liability.
What countries did Mexico owe money?
The countries that Mexico owed money to are France, Spain, USA, and England.This is not the answer to "Why did Mexico borrow money from other countries" :/
What is debt?
Outstanding balance in your loan account or credit card account that remains unpaid beyond the due date. It's the debtor's obligation to repay such dues to the creditor.
What is the debit side and credit side of received a cheques as fees for services rendered?
The debit side would be money that you owed and paid out for a service. They credit side is money that was paid to you by someone that owed you for services or products.
Can you explain what does "in credit" mean in financial terms?
"In credit" in financial terms means that a person or entity has a positive balance in their account or has money owed to them. It indicates that they have funds available to use or that they are owed money by someone else.
Why were credit cards invented?
Credit cards were made because banks wanted to keep up with credit as in owed money better.
Can a person get money owed for credit cards that is ordered in the divorce?
Only if you have the credit card if your divorsed it dosent matter
Can credit card companies take money owed them from your company defined pension plan?
No.
What best describes the difference between credit and debt?
Credit measures ability to buy, while debt means money owed.
