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In Business / College | 2025-07-08

What is a credit?
A. An amount being reimbursed
B. Funds paid by a party at closing
C. An amount that a party owes and must pay at closing
D. When the seller nets a positive amount at closing

Asked by JesseJM35

Answer (2)

A credit in finance allows for goods or services to be obtained with a promise to pay later. In real estate, for example, a seller may offer a credit to a buyer for closing costs. Among the provided options, none accurately describe the definition of credit clearly; thus, a correct response is not provided.
;

Answered by Anonymous | 2025-07-08

A credit in finance allows for pre-payment with a promise to pay later, while the options provided do not accurately define credit. Specifically, credit would not be an amount owed or funds paid at closing. An example of credit is when a seller gives a concession towards a buyer's costs. ;

Answered by GinnyAnswer | 2025-07-08

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