What term means to obtain or use money from a bank or other person in order to purchase goods or services?

What term means to obtain or use money from a bank or other person in order to purchase goods or services?

• A. Wages
• B. Borrow
• C. Check
• D. Debit

Answer: (B)

Borrowing means getting money from a bank or someone else to pay for goods or services today with the plan to pay it back later. This is the idea behind using someone else’s money to make a purchase now, hoping to repay it over time, usually with interest. Wages are money you earn from work. A check is a payment method that uses money you already have in an account, not borrowed money. Debit means spending money directly from your own bank account, using funds you already possess rather than borrowing.

Borrowing means getting money from a bank or someone else to pay for goods or services today with the plan to pay it back later. This is the idea behind using someone else’s money to make a purchase now, hoping to repay it over time, usually with interest. Wages are money you earn from work. A check is a payment method that uses money you already have in an account, not borrowed money. Debit means spending money directly from your own bank account, using funds you already possess rather than borrowing.