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intro to business


An agreement to get money, goods, or services now in exchange for a promise to pay in the future.

Charge account

Credit provided by a store or company for customers to buy its products.


Is a person who lends money or provides credit

Revolving account

A form of credit which allows one to borrow or charge up a certain amount of money and pay back a part of the total each month.


One who borrows money or uses credit.

Consumer Credit

Credit used by individuals for personal reasons

Installment Loans

Loans repaid in regular payments over a period of time.


A fee charged for the use of money.

Commercial Credit

Credit used by business

Credit Rating

A measure of a person's ability and willingness to pay debts on time.

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