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7 August, 12:21

If you borrow money from a lending institution and agree to pay back the original amount plus the accrued interest, what does it signify?

A.

credit from the lending institution

B.

you are a creditor in the Lending institution's account

C.

the lending institution has debited its account

D.

your personal account shows cash outflow

E.

lending institution shows cash inflow

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Answers (1)
  1. 7 August, 13:30
    0
    Option A.

    Explanation:

    Bank credit refers to the total amount of credit which is available to an individual or a business from a banking institution. It is the total amount of combined funds which financial institutions can provide to an individual or business.

    A business or an individual's credit approval will depend on the following:

    - borrower's credit rating,

    - income,

    - collateral,

    - assets,

    - pre-existing debt,

    - total amount of credit available in the banking institution, etc.
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Home » Business » If you borrow money from a lending institution and agree to pay back the original amount plus the accrued interest, what does it signify? A. credit from the lending institution B. you are a creditor in the Lending institution's account C.
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