1. Accounting : An entry on the right hand – side of an account record in double – entry bookkeeping. It has the effect of decreasing an assets or expense account, or of increasing a capital, liability, or revenue account.
2. Banking : Purchasing power created by banks through lending based on fractional reserve system.
3. Commerce : An agreement based largely on trust under which goods, services, or money is exchanged against a promise to pay later. This is also known as Commercial Credit.
4. Short form of the term Letter of Credit.
MBA Bhejha Fry 