Answer:
Option (B) is correct.
Explanation:
Credit refers to a facility or amount received by a person for making certain transactions and this amount will be paid by the customer in installments in the future.
Hence, when a person borrow some money from the finance company to buy a car is considered as a car loan or car credit given by the finance company and the borrower have to pay this amount in the near future.
So, credit is a facility that is provided by the various financial institutions and this facility enable the customer to pay the amount at a later date.
