Pangasinan State University

Lingayen Campus
College of Business and Public Administration

Name: Cyrell Andrea DG. Bustarde

Section: 2-FM B
Task: Credit

1. How Do you Define Credit?

- Credit is the ability to obtain a thing of value with the understanding that you'll pay later. It
can be in a form of cash or services. This also creates an obligation of the debtor to pay the
debt and the right of the creditor to collect payment.

2. Are you Capable at borrowing money

- As a student, I think that I am still not capable at borrowing money from big lenders
because I don’t have any source of income. I am still dependent with my school allowance
which is just good for transportation and food expense. With that, I am not capable to pay the
money I borrowed. On the other hand, I can also be capable of borrowing money if I will
borrow it from my close friends because they do not charge interest and I can save my
allowance to pay them in the future.

3. Where do you usually borrow money.

- With my situation, I usually borrow money from my friends. But If I happen to have a source
of income, I can borrow from banks and other money lending institution.