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Credit is an entry made in account ledger to record changes in value resulting from business transactions. Credit represent increases in liabilities, equity and income and decreases in assets and expenses.
Credit facility is a type of loan made in a business or corporate finance context. Specific types of credit facilities are: revolving credit, term loans, committed facilities, letters of credit and most retail credit accounts.
Credit is amount which is not paid but the transaction is made with vendor.
Creadit facility or limit is an accounting term/payment term which usually vendors give to customer with maximum amount and period like A (vendor) gives credit facility to B (customer) for30 days and US5000. this means B can pay A in30 days upto for the purchases upto USD5,000
Creditors, entities liabilities to others. Credit facilities, facilities granted by banks, financial institutions to entites.
Credit is a condition where the transaction is executed by the consideration or the payment for such transaction shall be paid later as decided on mutual agreed terms between the purchaser and Supplier. Such mutually agreed terms is what we called is Credit
Where as the Credit facilitiy can be defined as the supplier agrees to sell to the purchaser on credit to the extent of certain limit as decided by the supplier. This limit or facilities is called as credit facility.
Credit is you buy something or you borrowed money but you didnt paid.
Credit Facility is you apply a term of credit from different supplier (kind of contract from supplier)
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