Ayushmann Bharat Scheme new List 2019

Ayushmann Bharat Scheme new List 2019


Ayushmann Bharat Scheme new List 2019
Ayushmann Bharat Scheme new List 2019
Ayushmann Bharat Scheme new List 2019
What is 'Credit'
Credit is a contractual agreement in which a borrower receives something of value now and refuses the loan on some later date with consideration, usually with interest. Credit also refers to an accounting entry that either decreases assets or increases liabilities and equity on the company's balance sheet. Additionally, on the company's income statement, a debit reduces net income, while a credit increases net income.
BREAKING DOWN 'CREDIT'
Credit also refers to the creditworthiness or credit history of an individual or company. For example, someone can say, "He has great credit, so he's not worried about the bank rejecting his mortgage application." In other cases, credit refers to a deduction in the amount one owes. For example, imagine someone owes his credit card company $ 1,000, but he returns a purchase worth $ 300 to the store. He receives a credit on his account and then owes only $ 700.
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Types of Credit
There are many different forms of credit When banks offer their clients car loans, mortgages, signature loans and lines of credit, those are all forms of credit Essentially, the bank has credited money to the borrower, and the borrower must pay it back on a future date. For example, when someone makes a purchase on his local mall with his VISA card, his payment is considered a form of credit, because he is buying the goods that he needs to pay for later.
However, loans are not the only form of credit. When suppliers give products or services to an individual but do not require payment afterwards, that is a form of credit For example, if a restaurant receives a truckload of food from a vendor but the seller does not demand payment a month later, the seller is offering the restaurant a form of credit.
Additionally, if a company buys something on credit, its accounts should record the transaction in several places in its balance sheet. To explain, imagine a company buys merchandise on credit. After the purchase, the company's inventory account increases by the amount of the purchase, adding an asset to the company However, its accounts payable field also increased by the amount of the purchase, adding a liability to the companyπŸ‘‡πŸ‘‡

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