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Question
Identify the product these features indicate.
A: Agreement between a borrower and lender
B: Promise of future payments
C: Paid in money, goods, or services
Identify the product these features indicate.
A: Agreement between a borrower and lender
B: Promise of future payments
C: Paid in money, goods, or services
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Solution
The correct option is B Credit
A: Agreement between a borrower and lender
B: Promise of future payments
C: Paid in money, goods, or services
These features are decriptive of credit.
Cheque, promissory note are instruments that promise a transfer of money from one person to another. They are not an agreement.
Bills are an information of the goods and services obtained.
A: Agreement between a borrower and lender
B: Promise of future payments
C: Paid in money, goods, or services
These features are decriptive of credit.
Cheque, promissory note are instruments that promise a transfer of money from one person to another. They are not an agreement.
Bills are an information of the goods and services obtained.
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