Question

What is credit?

Answer 1

When I took the test, I selected "C. an arrangement in which you receive money now and pay it back later with fees" but I got it wrong. So I'm pretty sure the answer is "A. an arrangement in which you receive money, goods, or services now in exchange for the promise of payment later"

Answer 2

Answer:A. an arrangement in which you receive money, goods, or services now in exchange for the promise of payment later

Step-by-step explanation:

Credit is amount of a money which a financial institution allows a person to receive any particular  amount of money ,goods or services to use now and pay later.This money, goods, or services is added into the account and the amount that can be credited is determined  by a record of how well you have paid your bills in the past.

Among the given options the right option is :

A. an arrangement in which you receive money, goods, or services now in exchange for the promise of payment later.