Define: Credit (Terms Of Business)

UK Accounting Glossary

Definition: Credit (Terms Of Business)


Quick Summary of Credit (Terms Of Business)


The supplier agrees to allow the customer to make payment some time after the delivery of the goods or services. Typical trade credit periods range from 30 to 60 days but each agreement is different.



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Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/credit-terms-of-business/
Modern Language Association (MLA):
Credit (Terms Of Business). PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 28, 2020 https://payrollheaven.com/define/credit-terms-of-business/.
Chicago Manual of Style (CMS):
Credit (Terms Of Business). PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/credit-terms-of-business/ (accessed: February 28, 2020).
American Psychological Association (APA):
Credit (Terms Of Business). PayrollHeaven.com. Retrieved February 28, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/credit-terms-of-business/

Definition Sources


Definitions for Credit (Terms Of Business) are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd December 2018.