What Is the Accountant's Term Used to Describe the $15,000

question 89

Short Answer

What is the accountant's term used to describe the $15,000 Petra Jabon borrowed to turn her carport into a closed garage?

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Definitions:

Terms of Sale

Conditions agreed upon by a buyer and seller regarding the delivery, payment, and other aspects of a purchase.

Consumer Credit

A type of financial arrangement that allows individuals to borrow money for purchasing goods and services, typically involving interest fees.

Credit Scoring

The process of quantifying the probability of default when granting consumer credit.

Conditions

The specific requirements, terms, or circumstances that define an agreement or situation.