Answer:
The immediate obtainment of goods or services in exchange for future payment.
Explanation:
The term "credit" is used for the attainment of any goods or services immediately in exchange for future payment. This means that the services or goods will be acquired at the same moment but the payment will be done later on in the future.
This means that anything taken in advance without the payment done yet is termed as credit. So, the phrase that defines 'credit' best is the limited obtainment of any goods and services in exchange for payment to be done in the future.
Answer:
A scholarship is aid given to a student by an institution.
Explanation:
A scholarship is the financial help provided by the institution to a student to help in the academics. These are a means of help to the students to encourage in further studies and researches. Financial aids and awards are given to the students who qualify the prescribed criteria. Scholarship is an encouraging effort taken by the institution or government to help the students engage more on academic fields. Monetary awards and waving off the fees are the two ways by which scholarships are provided.
