(finance)
When using credit, the purchase amount becomes what once the payment agreement is made?
A. Loan
B. Debt
C. Mortgage
D. IOU

Question

(finance) 
When using credit, the purchase amount becomes what once the payment agreement is made?
A. Loan
B. Debt
C. Mortgage
D. IOU

lmTheGoodBoy · Answer

loan or mortgage

lmTheGoodBoy · Answer

debt is when your in debt so you have to keep and keep paying money till you get out of it

ThanosQC · Answer

Once you make a purchase with credit, you are essentially taking out a loan from the company. So the correct answer would be B, debt.

CecePitbull · Answer

im pretty sure it depends. what type of agreement, ect.think about it this way. it doesn't say anything about owing money cross that off. js yk try looking at the details. (but just don't take my word for true bc I'm a lil dumb lol!)

CecePitbull · Answer

oh see i was wrong i apologize😭🙏

ImTheGoodBoy1 · Answer

@thanosqc wrote:

Once you make a purchase with credit, you are essentially taking out a loan from the company. So the correct answer would be B, debt.

that makes sense too

Landyy · Answer

It’s b because debt is what happens when you owe money