Examlex
A degree in architecture will provide a student with the human skills required for a job.
Open Charge Account
A credit account that allows the holder to make purchases and pay for them at a later date without a predefined payment schedule.
Installment Account
A credit account where the borrower repays the principal and interest over a set period through scheduled payments.
Line of Credit
A flexible loan arrangement with a financial institution that allows a borrower to draw funds up to a specified limit, repay, and redraw as needed.
Trade Credit
An arrangement where a buyer is allowed to purchase goods or services and pay the supplier at a later date, often used to finance short-term business needs.
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