3
Question
An agreement in which the lender supplies the borrower with money, goods or service in return for the promise of future payment.
An agreement in which the lender supplies the borrower with money, goods or service in return for the promise of future payment.
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Solution
The correct option is C Credit
An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment is called credit agreement.As in this agreement the consideration is paid by the borrower later, generally with interest.
An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment is called credit agreement.
As in this agreement the consideration is paid by the borrower later, generally with interest.
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