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6 Cards in this Set
- Front
- Back
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What is credit?
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The privilage of using someone else's money for a period of time.
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What is a debtor?
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Anyone who buys on credit or recieves a loan
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What5 is a creditor?
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One who sells on credit or makes a loan
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What is trust?
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The creditor believes that the debtor will honor the promise to pay later for goods and services thath have been recieved and used.
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What is loan credit?
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when you borrow money to be used for some special purpose
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whats is sales credit?
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If you charge a purchase at the time you but the good or sertvice.
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