What is credit

1. the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future."I've got unlimited credit"synonymes : financial standing, financial status, solvency
2. an entry recording a sum received, listed on the right-hand side or column of an account."the columns should be added across and down and the total debits should equal the total credits"
3. public acknowledgement or praise, given or received when a person's responsibility for an action or idea becomes apparent."he was quick to claim credit for the accomplishments of others"synonymes : praise, commendation, acclaim, approval, approbation, acknowledgement, recognition, kudos, hat tip, glory, merit, regard, esteem, respect, admiration, adulation, veneration, tributes, thanks, gratitude, appreciation, bouquets, brownie points, laudation, extolment, eulogium
4. the acknowledgement of a student's completion of a course or activity that counts towards a degree or diploma as maintained in a school's records."a student can earn one unit of academic credit"
5. the quality of being believed or credited."the abstract philosophy of Cicero has lost its credit"

1. publicly acknowledge a contributor's role in the production of (something published or broadcast)."the screenplay is credited to one American and two Japanese writers"synonymes : ascribe, attribute, assign, accredit, chalk up, put down, set down, impute, lay at the door of, connect with, associate with, stick something on
2. add (an amount of money) to an account."this deferred tax can be credited to the profit and loss account"
3. believe (something surprising or unlikely)."you would hardly credit it—but it was true"synonymes : believe, accept, give credence to, have confidence in, trust, have faith in, rely on, depend on, count on, go for, fall for, buy, swallow, swallow something hook, line, and sinker, take something as gospel

What is a simple definition of credit?

Credit is the ability to borrow money or access goods or services with the understanding that you'll pay later.

What is credit example?

A credit actually means an entry on the right side of an account. Depending on the account, a credit could be an increase or decrease for the account. For example, a credit always increases accounts with a credit balance like liabilities, revenue, and equity accounts.

What is a credit answer?

it is a agreement in which the lender supplies the borrower with money or service in return for the promise to future payment.

What is debit and credit?

A debit entry in an account represents a transfer of value to that account, and a credit entry represents a transfer from the account. Each transaction transfers value from credited accounts to debited accounts.